James H Burch Proposal for World Trade Center

A Response to the Request for Proposals No. 4051-01414 for the
REDEVELOPMENT OF THE WORLD TRADE CENTER SITE

Presented to

THE CITY OF NEW ORLEANS and THE NEW ORLEANS BUILDING CORPORATION

An Iconic Re-Development Project at the Heart of the City,
the Country and the Hemisphere, in New Orleans, Louisiana

James H. Burch LLC

James H. Burch, Managing Partner
13419 Cavalier Woods Drive / Clifton, VA 20124
703-818-8080 / Jim@JamesHBurch.com

April 17, 2013

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Response to RFP No. 4051-01414
for the REDEVELOPMENT of the
WORLD TRADE CENTER SITE
Presented to
THE CITY OF NEW ORLEANS and
THE NEW ORLEANS BUILDING
CORPORATION

bv

James H. Burch LLC

James H. Burch, Managing Partner
13419 Cavalier Woods Drive / Clifton, VA 20124
703-818-8080 / Jim@JamesHBurch.com

New Orleans Building Corporation
Bureau of Purchasing

Chief Procurement Officer April 17, 2013

The City of New Orleans
1300 Perdido, Suite 4W04
New Orleans, LA 70112

Ladies and Gentlemen:

It is with great pleasure and anticipation that we present our proposal in response to RFP 4051-01414 for the
Redevelopment of the World Trade Center Site. I make this offer on behalf of my company, our investors,
ColumbiaNational, and our wonderful team of talented people - all of whom are elated at the prospect of being
able to bring back to greater life this iconic site in the wonderful city of New Orleans, As you will see from our
attached proposal, we have spent a great deal of time, and have brought in some of the best talent in the United
States to apply to this site - a site which we think is worthy of that talent and human ingenuity. We have great
faith in the creativity, solid prospects, and spot-on fittingness of the proposal we make here, believe they will be
evident to you, and that the city and the people of New Orlens will be thrilled and proud to see what is coming.
We also are fully confident of our ability to get this done.

Here is a synopsis of what we propose.

We have spoken with officials of the World Trade Center New Orleans, and have discussed with them their
return to this building at the end of their current lease, They look forward to this, but will only be able to
confirm any decision to us upon our signing a lease for the site with the city. They have, however, given us
permission to use the name, conditioned upon this occurance, and so our name is: The World Trade Center.

We Propose The Following Component Uses of the Site (approximate at this time):

Rooftop lounge and full floor restaurant

On the 33 [d floor rooftop lounge, the revolving restaurant will be completely redone, and possibly
outdoor bar and private events facility can be constructed on the roof. The historic restaurant will be
rejuvenated and again opened to the public.

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Page 2

Purchasing Department - RFP No. 4051-01414
April 16, 2013

550 room luxury hotel/resort

The largest footprint in the building will be the luxury hotel. We have come to points of interest with
four brands, each of whom would produce a new niche for New Orleans, and is not presently in the city.
Shortly after award of the bid, we expect to then determine which hotel will fill this niche, At this time,
although each hotel has its own "sweet spot," we find most hovering around 550 rooms, plus
management of the rooftop lounge and 30 th floor restaurant, with elegant guest facilities.

The World Plaza

Our most innovative proposal is to connect the pedestrians passing Convention Center Boulevard into
our new World Plaza and through to Spanish Plaza. We do this by opening up the exterior walls of three
lower floors of the World Trade Center building, making them pass-through from the city activity to the
riverfront. Our site will be local and unique retail - unlike any local retail or any national "mall" available
now - including music clubs with open windows so that music filters out to the plaza levels, entertaining
and attracting visitors at the same time. Our anchors will compliment the small retail stores, and will be
like no other In the city: three or four clubs, such as Danny O'Flaherty's Folk World - providing
entertainment to both its interior customers and to passers-by; the monument film of New Orleans
(identified next, below), its history and the character of its people - viewed on an outside shaded patio;
the grand entrance to Eyes on the World (see below); a glass-enclosed studio kitchen with audience
seating for the celebrity chefs of New Orleans to offer classes to paying audiences, seen by viewers
through the glass walls, and to international TV audiences; and - with permissions and feasibility -
converting the regular fountain at Spanish Plaza into Dancing Fountains with hourly special water
fountain shows. Through creative stepped-up and down design, the city will be tied to the riverfront.

The Monument to the People of New Orleans

A large video screen built into a glass monument, and showing the remarkable history of New Orleans,
its grit and determination and joy. This will be seen from up Canal Street, and the other side of the
monument will have the same video showing for patrons of one of the Plaza's clubs to watch at shaded
tables, serving food and drink. An eye-catching inscription (draft) chiseled in the monument will sum up
the great humanity of the people of New Orleans: "Our center is our heart. This center city has always
expressed the joy and the love of the people of New Orleans. It shines to the people of Louisiana, the
USA, the Americas, and the world to say: WE LOVE EACH OTHER. WE CARE FOR EACH OTHER. WE LISTEN
TO THE TUNES OF OUR SOULS. And we thank you for sharing our joys and enriching our lives. "

The Return of the World Trade Center New Orleans

This building is the historic home of the first world trade center in the world. The identification between
the institution and the landmark site is iron-tight. We have invited them to return and offered them
3,000 sq. ft. of free office space. They are interested, and ready to talk with us when we win this bid.

Foreign Consulates and "Eyes on the World"

We have dedicated four complete floors to the return of consulates from (we expect) nearly every
nation in the world. These consulates will lease this space because not only will these consulates
conduct their usual business there, but 16 wings (4 per floor) will be dedicated to the 16 regions of the
world, with each wing dedicated to one region (e.g., "South America"), and designed by our
incomparable architects to reflect the culture, design and attractions of that country. This will
additionally be a place for tourists to pay an entrance fee, and "visit the world!"

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Purchasing Department -
April 16, 2013

RFP No. 4051-01414

Luxury Office Space

Four floors (100,000 sq. ft. gross space) dedicated to Class A office space, overlooking the French
Quarter, the CBD or the Mississippi River.

Luxury Residental

We will offer 42 one bedroom/one bath units, and 46 two bedroom/two bath units for lease. These will
be upscale units.

Of course, we are aware of reputed problems: possibly inadequate interior stairways, current lack of parking for
visitors to this site, the volume of ferry traffic tieing up the area, etc. We see no inordinate difficulty in being
able to solve these problems. Everything has problems. And everything- with the right minds at work (like the
city, our consultants and us) - has solutions.

We take great pride in the quality of the team selected to design and build this project presented in this
proposal. Perhaps the greatest architects for high-end resorts, hotels and attractions in the world is the
company we have as lead design: WATG - Wimberly Allison Tong & Goo- who have designed about 40% of the
greatest buildings in this field. The local architectural firm of Perez is second to none as well, and have proven
their credentials in great buildings in New Orleans and the USA. Our consulting architect, Peter Capone, AIA, is
the last living partner of Edward Durrel Stone, who designed this building in the early 1960. And the feat of
bringing this into existence is going to go to the local New Orleans firm that has built much in New Orleans, is
quickly earning its reputation as among the best builders in America, and whose reputation is shining: The
McDonnel Group, our General Contractor. To make certain that all the every aspect of our plans are
economically feasible and that costs, revenues and fees are projected correctly, we have selected Schnellbacher
Development Services, for ongoing Market Analysis, headed by Gary Schnellbacher, who knows this city
(through his former association with PKF studies) and these projected uses thoroughly. Residential rentals will
be represented by a premiere real estate firm in the city, Dorian Bennett's Sotheby's International Realty. The
oversight of the project is anticipated to be handled by the extremely capable firm of Arey-Peer Partners, who
have scores of projects of this scope under their belt.

Our offer to the city is for a 99 YEAR LEASE, WITH FIVE MILLION DOLLARS ($5,000,000) PAID EVENLY OVER THE
FOUR YEARS OF CONSTRUCTION, FOLLOWED BY ANNUAL LEASE PAYMENTS OF ONE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($1,500,000), PERIODICALLY RECALCULATED. Our financial source for this venture is the
renown firm of ColumbiaNational of Columbia, Maryland - originally founded by legendary Jim Rouse, and
still following his mantra of building creative communities that enhance their surroundings, are financially
empowering, and project the area toward a greater economy and lifestyle. ColumbiaNational has $6 billion in
commercial and multi-family mortgages - one of the largest and most efficient portfolios in the industry.
Their commitment is strong, pending our final lease negotiations with the city.

We anticipate a minimum of 3,500 new construction jobs in the city and parish, and 3,600 new jobs after the
project becomes operational. We stress that these are very conservative and minimal estimate numbers, and
the result will probably be much greater. The region will see expenditures of $129.7 million expended locally
during construction, and nearly $72 million annually during operation - or nearly $7 BILLION over the life of
the lease (at today's dollars). DBE and local city/parish participation is to the satisfaction of city requirements.

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Purchasing Department -
April 16, 2013

RFP No. 4051-01414

This is a project of consequence - to the city and its financial future, to the citizens of New Orleans and Orleans
Parish, and to ourselves as developers as well. We anticipate, in our preliminary estimation of costs, that we will
spend $180 million in creating the proposal we offer to you here.

We are aware of its importance, its vitality, its creativity, is component parts all working together, the way it will
bring additional tourism dollars to the city and to the other businesses presently attendant to tourism in New
Orleans. In fact, we offer new attractions not otherwise offered in the city- in the Eyes on the World and the
World Plaza. We know that our development will open the riverfront up to new and vibrant use by both local
citizens and visitors. We think that from our efforts New Orleans will see MORE tourists than presently, and that
they will then SPEND MORE MONEY while here.

There could not be a more world-class civic use for this site than that proposed here ... simply unparralleled
community benefit, uses that will actually be USED by citizens and visitors with tremendous enthusiasm.

Most of all, we see in the city and its leaders a great foresight in how you see the greatness of this remarkable
city unfolding. We anticipate and offer our services to assist you in this challenging endeavor by making the
World Trade Center redevelopment one of the greatest achievements in the city's history of great
achievements.

Respectfully submitted,

Managing Partner

(and Primary Contact for the city)

James H. Burch LLC

Jim@JamesHBurch.com

703-818-8080

Attachments: Seven (7) bound hard copies of our proposal with detailed descriptions
An electronic submission of our proposal in Flash Drive, in PDF file
A cashier's check in the amount of $50,000
Completed, signed and notarized forms as required by the RFP

Contents Page

Contents 6

Introduction 10

Detailed Description of the Proposed Redevelopment 13

1. Ownership of the Developer Entities 14

2. Members of the Development Team 14

3. Contact Persons for Correspondence and Notification
Purposes, and Authorized Representatives to Work with

NOBC 14

4. Schedule for the Project 15

5. Comprehensive Plan / NARRATIVE 16

6. Balance between Commercial Uses and Civic Potential /
Description of Use of Space with Design Elements for Civic

and Community Benefit 24

7. Plans 25

Exterior Elements 26

- The Revolving Lounge/Bar and Rooftops 27

- The Exterior Architecture of the X-Shaped Building

Facade 29

The Lower Three Floors 29

Boasting the City: Proclaiming its Grit, its Verve,

Its Determination, its Feeling 30

Upgrade, Uplift, Rejuvenate and Extol Spanish

Plaza 32

Grade-Level Improvements Over Tracks 34

Parking, Access and Grade Level Ingress/Egress 35

- FLOOR BY FLOOR DESCRIPTION OF USES 36

• Bar/Lounges / Outdoor Lounges / Garden /

Restaurants / Banquets \ Meetings 39

• Residential Rentals 41

• The Luxury Hotel & Resort 42

• Leased Office Space / Donated Office Space /

World Trade Center New Orleans and Other

NOLA Non-Profits 43

• Parking Garage (option) 45

• "Eyes on the World" 46

• World Plaza Level/Open Space Retail 49

Importance of Foot Traffic and the Streetcar service ... 57

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Samples of Elevation 58

Summary of Development Concept 59

8. Proposed Maintenance Program for All Space and Facilities

to be Accessible to the Public 64

Employment Projections 65

1. Pre-construction And Construction 66

2. Permanent and Part-Time 66

3. At least Thirty-Five Percent 35% DBE Participation 67

4. Orleans Parish/Local Business Participation 71

Qualifications and Performance History of the Respondent 72

1. All Owners of the Development Entities 73

2. Members of the Development Team 76

3. Prior Projects of the Main Development Entities, in
Which There was Extensive Experience with

Governmental Entities 120

Financial Capacity of Respondent 123

1. Financing Plan and Business Offer 124

2. Evidence of Developer Financial Ability 126

3. Surety Company Approval 130

Financial Feasibility of the Project 131

1. Market Analysis 132

2. Pro Forma Development Budget and Operating Projections . 155

3. Proposed Financing and Financing Sources and Uses 166

4. Detail of all Direct and Indirect Economic Benefits to NOBC

and the City 170

5. Special Considerations Asked of the City 173

Other Requirements (documents and forms) 175

1. $50,000 Deposit 176

2. Completed Forms 178

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Attachments / Letters of Commitment 188

1. General Contractor:

The McDonnel Group 189

2. Principal Design Architects:

Wimberly Allison Tong & Goo 190

3. Local Architects:

Perez 192

4. Consulting Architect:

Peter Capone, Al A (last living partner of Edward Durrel Stone) 193

5. Market Analysis:

Gary Schnellbacher 194

6. Residential Rental Realtor:

Dorian Bennett, Sotheby's International Realty 199

7. First Commitment of Entertainment:

Danny O'Flaherty's Folk World 200

8. Construction Manager/Owner's Representative:

Arey-Peer Partnership 201

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Introduction

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The World Trade Center (WTC) building is the original of the 300+ World Trade Centers now a part of
the World Trade Centers Association. The local WTC organization itself moved from the New Orleans
World Trade Center building (our subject site) in 2012 when the city bought the WTC out of their lease
there for $2.3 million. In its heyday, the World Trade Center at the foot of Canal Street was a bustling
destination, its 33 floors occupied by consulates as well as maritime and other businesses. Designed by
famed architect Edward Durell Stone, (whose architect/partner, Peter Capone, is part of our team) the
X-shaped, 404-foot tower — the first world trade center — opened in 1967.

Moreover, the World Trade Center building is a building that just about everyone knows. Many people
from around the country and the world know it. They know where it is, what its name is, and at least
vaguely how important it is to the City of New Orleans. That's not something that ought to be lost.

It is the Respondents' unwavering conclusion
that this building and site will return to - and
will surpass - its former status. It will reflect
the resurrected New Orleans.

James H. Burch LLC is the developer of the project, and is working towards acquiring the services of
Arey-Peer Partners, Peter Arey and Steven Peer, as the owners' rep/construction manager, upon
execution of the lease with the city . The McDonnel Group will be the general contractor. Perez will do
the architecture, in conjunction with Wimberly Allison Tong & Goo of Irvine, CA.

We have chosen to re-title the building in its original name: "World Trade Center.," It connotes 1) the
iconic architecture of the building, deeply ingrained in the fabric of New Orleans since this building
became the capstone of the city's major rejuvenation in the 1960s; 2) the extraordinarily prime
location at the very center of the most prominent buildings, districts, activities, business and tourism
attractions in this famous American city; 3) New Orleans centrality in the United States, which draws
conventions and visitors, even away from other central US cities because of its warm weather and
bustling array of tourism attractions; and 4) its centrality within the Western Hemisphere to both
business and tourism. The World Trade Center New Orleans has verbally indicated that they would like
to return to this building, their home since 1967, and which is so linked to their existence and mission.
We understand that they cannot commit to that until we win the bid and make a concrete offer to
them. But they have given us verbal permission to use the WTC name, conditioned upon our meeting
this mutual goal after our winning the bid, and proceeding to lease agreement negotiations with the
city. For our part, we want them to return, and anticipate that that will be accomplished once their
current leases expire. Therefore, with their permission, we state in this proposal that

this building will be returned to its historic
name: 'The World Trade Center/'

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Note:

We are aware of the belief in some quarters that leveling the building and leaving only a larger plaza
there would create a new communal, civic use place. There are three main arguments against that as
this site's singular p urpose. First, it would have no anchor, no reason for its existence other than being a
large place (what's the draw once you get there? In every other major city where that has been tried,
only emptiness eventually results. An occasional concert doesn't cut it). Second, it would at best be a
meager creator of cash flow for the city (why pay big money to tear something costly down, when it does
not make any significant return or profitability at all?). Finally, it would be the destruction of an iconic
symbol of the resurrection of New Orleans. After all, this building spear-headed the first big 1960s
reinvigoration of the city of New Orleans.

Why not do it again? Why not tie that good idea - the idea of a revitalized waterfront - into the good
ideas here. Let's together make this site what it was: the statement of New Orleans' greatness.

We feel that the city really would not want an iconic and monumental building to be torn down that
everyone who has ever been to New Orleans ALREADY KNOWS, in favor of building a new structure that
they HOPE will become iconic and monumental over many years to come? It's just that nobody has come
up with a good-enough plan yet. Until now! The city is wisely making certain that it has options, because
every proposal in the past has been lacking. So now we all ask together: "Why lose jobs from this site
rather than make them, when the building will generate jobs and an open space will not?" Let us, the
developer, pay the BIG MONEY and not the city, while the city uses the substantial profit it will make
from our activities and improves the waterfront without dipping into public funds. This is a Win-Win.

It is prudent government to have a fall-back position; most governments don't think that far ahead. The
only better alternative is not to have to use that fall-back position because you have in hand a proposal
that makes this a clear choice: our proposal which generates income for the city vs. a proposal to tear
something down, expend money and then not make money. We applaud the idea of creating a
waterfront along the Mississippi River that will draw the public to it. The city obviously sees that
something comprehensive can revitalize the waterfront - and this time it will be right. If the city wishes
to create a new master plan the riverfront so as to make it more useable, that would be wonderful.
Whatever might be done in this regard, THE PROPOSAL WE MAKE HERE WOULD COMPLIMENT
ANYTHING THAT MIGHT COME LATER.

It is the Spanish Plaza and the Dock Board land that needs reworking. The World Trade Center site needs
REDEVELOPMENT, not demolition (and energy used in annihilation is SO NON-GREEN). This site is far
enough back from the water's edge, and close enough to the city activity, that its development as
proposed here would not interfere in any future waterfront plans, and could only enhance them, by
attracting more people to go there.

Moreover, the new money the city will be deriving in direct and indirect taxes resulting from the uses we
propose here can help any future riverfront development. We congratulate the foresight and wisdom in
the merger of our plan and that of the city. When the smoke clears, the city has set this up well.

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Detailed Description
of the Proposed Redevelopment

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1. Ownership of the Development Entities

James H. Burch LLC

Owned by James H. Burch (100%)

2. Developers

(Qualifications to follow later in this Presentation)

James H. Burch LLC

13419 Cavalier Woods Drive
Clifton, VA 20124

Arey and Peer Partners

Construction Management and Owners' Representative
Great Falls, VA

3. Contact Persons

(for Correspondence and Notification, and Authorized Representatives to Work with NOBC)

Mr. James H. Burch, Managing Partner

James H. Burch LLC
Jim@JamesHBurch.com

13419 Cavalier Woods Drive, Clifton, VA 20124

703-818-8080

Jim@JamesHBurch.com

Representing the Managing Partner of the Venture:
Mr. Peter Arey, Partner

Arey and Peer Partners
Great Falls, VA
Phone: 703-789-7612
Peter@areyinc.com

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4. Schedule for the Project

FIRST SIX MONTHS

Upon execution of the developer's lease with New Orleans, work will IMMEDIATELY begin: gutting all
the floors; refurbishing the elevators, the motor of the revolving rooftop lounge; refurbishment of
exterior siding and windows; mechanical, plumbing and electrical core work; removal of the walls on the
lower three floors of the building; architectural and engineering drawings for fast track submission.

SECOND SIX MONTHS

The World Plaza will be expanded through three lower floors of the World Trade Center building out to
Convention Center Boulevard; interior work on all segments of the building will be begun; leases
solicited. The World Plaza will seamlessly tie into the Spanish Plaza. Some exterior building work will
begin; interior renovations will begin, based on fact track approvals, depending on the city's timing.

THIRD SIX MONTHS

Construction will be ongoing; offices, consulates ("Eyes on the World"), retail lease options will be
presented to future lessees; the parking will be under construction or renovation, in conjunction with
the city; the monument facing up Canal Street will be under construction; the retail ground level floors
and exterior extension of Spanish Plaza will be nearly completed.

2015 -THE TRICENTENNIAL!

The monument will be completed early in the year. The hotel, office and residential will be under
construction. The Spanish Plaza will now tie into World Plaza and open in the spring, depending on city
fast tracking approvals' schedule. World Plaza retail will open in the spring. The WTCNO office space will
be ready for when their current lease expires. Model residential rental units will be ready for showing
for lease. Danny O'Flaherty's Folk World and other night clubs will open. The monument and the
inscription will be complete. THE EXTERIOR OF THE SITE WILL BE READY FOR THE TRICENTENNIAL!

2016 -COMPLETION

Depending almost completely on the city's response time to the developer's submissions and permit
requests, it is the developer's plan to complete the construction and open all phases by late 2016.

At the foot of Canal Street, the World Trade Center building is the focal point of New Orleans.

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Comprehensive plan - A Narrative Description

Because the World Trade Center Building has been such an important part of New Orleans for the past
almost five decades, the spearhead of the rejuvenation of the city, and a source of pride for the city's
leadership in international trade - for these reasons and more, we feel an obligation to return it to its
destiny. Additionally, this iconic building sits at the cornerstone of the City of New Orleans - right at the
edge of the French Quarter and the Central Business District, and at the foot of Canal Street and Poydras
Street. It has the potential to tie all the beautiful and vast elements of this one-of-a-kind city together,
to exemplify and shine a light on all the powerful joys and talents of this unique blend of people. And
that is a potential we offer to bring to full fruition with this proposal.

We have longingly anticipated this bid and savored it as we put our concepts to paper. Winning this bid
and successfully negotiating a joint vision with the city's representatives, we will together accomplish
with the city at this site what we propose here. In fact, what we propose will be improved as the city
and we move it forward in our constructive negotiations.

Some Caveats

Our proposals are not single use. They are not plain vanilla. They are not just a way for the developers
and the city to merely use the site for the acquisition of money, though that certainly happens, given
time. Nothing, though, happens in a flash. Everything here requires more thought, more interaction with
the city, more answers to problems that could never be answered fully by April 17, 2013 for those
wishing to do it right.

For these reasons, we have obviously not presented a fully finished product. We suspect you were wise
enough to have understood that from the beginning, which is why you put in up to a four month
negotiation period. But we believe the city's representatives will find that we have presented more than
adequate documentation to show

unsurpassed creativity, income on a sustained
basis for the city beyond expectations, a
coalescing of strengths that will re-emphasize
the beauties and talents and joys of this city
and its people.

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Let us show a couple of examples of what we should NOT be doing at this point, even though we might
like to and wish that we could.

First, the history of the building is important, most especially for the city, but also for the historic tax
credits such historic preservation makes available, and which enables us to do much more here than
would otherwise be economically feasible. One issue of historic preservation is the question of the
facade - the concrete exterior walls and the small windows. Are these a part of the historical part of the
building or not? The answer makes a big difference on whether or not the building is re-clad and
resurfaced or whether the exterior is left relatively as is. At this point, we have the last remain living
partner, Peter Capone, AIA, of the original architect, Edward Durell Stone, as a consultant to James H.
Burch LLC, who tells us that the concrete exterior and vertical windows were never very important to
Stone but rather were a last minute completion step. What Stone saw as unique and historic was the "X"
shape of the building, at its precise location. Nevertheless, the right answer to this question requires
much more work and time than could have been accomplished between January 3, 2013 and April 17,
2013, and then to get the design done properly. However, it is something we will quickly proceed with,
something we are in process of, should we win this bid. For now, we show a building whose concrete
exterior portions are retained but cleaned and perhaps re-colored, and the same windows minus the
view-blocking aluminum "fans," and preserving the verticality of exterior design, an updated but clearly
"New Orleans look."

Second, another presently-unsolvable problem is that of parking. Without our negotiating with the city,
any solution will be simply a shot from the hip, and not worthy of serious people. That includes not only

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the parking structures, but also the number of parking place, given the uniqueness of uses proposed.
We only want to put forward what we can do, not what may or may not be. Elsewhere in this proposal,
we outline four parking options. One may work best, or a combination of several. We do not intend to
insist to the city they must do what we prefer. We would rather lay out the alternatives, ask for the best
solution from our point of view, and then hear what the city has to say. So there is another decision that
materially affects what kind of design we will have: where the parking will end up. Yet ... it is a problem
most certainly solvable. It's just not a problem capable of being solved without the city's involvement.

If representatives of the city might have been hoping for more final presentations than the fully-credible
options we are presenting, we hope that they might understand that our making those decisions now
could dirty the water, harden viewpoints, imply wrong assumptions and not lead to as worthy a
summation as will occur under the process we hope to be engaged in with you over time. Moreover, we
believe we have given more than adequate evidence that

the developers and the team here are
extremely capable of moving solidly and
quickly toward what will be the best result
possible - something for which the city leaders
and the citizens will be very proud.

The Name of the Building

We are calling this building the "World Trade Center." This name is copyrighted by the World Trade
Center New Orleans (no longer at this building) and by the World Trade Center Association,
headquartered in New York City. However, we are using this name in anticipation of the World Trade
Center New Orleans moving back to this building. One of the respondents to this RFP, James H. Burch,
was the founder and the first chairman of the World Trade Center Washington, DC in the mid-1980s,
and knows this national organization and many of the people in it.

We have spoken with officers of the World Trade Center New Orleans to see if they might be interested
in returning to this building that is so much a part of their history and character. And, yes, the World
Trade Center New Orleans is interested in returning, when their current lease expires. Without our
having yet the right to make them a concrete offer, all we can mutually do is talk about it. But we do
talk about it with anticipation. We, as Respondents to the RFP and potential developers of it, feel that
would be a wonderful part of this plan, and we have asked them to return, about what we can set aside
for their return, and how we might tie all the elements of our plan together to enhance their work. (See
description of our offer to them in later sections of this proposal.) This offer is something we will
pursue, should we win this bid and successfully negotiate a contract with the city.

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Should the World Trade Center New Orleans return to this former "World Trade Center Building," then
the name World Trade Center will once again be attached to the building. We are presuming so in this
proposal, with their verbal permission.

What the Building Will Look Like from the Outside

From a distance - from the river, down Canal Street, down Poydras Street - this site will be the finale,
the exclamation point of a magnificent city. We propose to clearly define the termination of Canal
Street at this site, and to reconfigure the plazas to make this visually explicit. One way or another, Canal
Street will flow into our Convention Center Boulevard street frontage, flow through our opened (i.e.,
removing the walls) three floors, and to the Spanish Plaza. What would be ideal is if the ferry landing
operation were removed from adjacent to this site and taken somewhere else. Such a move has been
discussed previously in the city, and we feel it is time now to do that. This is possibly the main focal
point of the City of New Orleans, and an industrial use which draws heavy commuter traffic simply
passing through is not the best use here. However, that decision will be the city's alone to make, in
consultation with other parties. We can only suggest it, and make a case for it. Even should that move
not occur, it is our intention to connect Spanish Plaza all the way through our building up to Convention
Center Boulevard by our new "World Plaza." If you consider this a difficult undertaking, we ask only that
you consult the work our architects have done in the past to conclude that they are more than capable
of creating a fabulous landmark site here, out of this very concept.

As discussed previously, the facade of the building will probably not be re-clad in any other material.
However, this decision will await further studies, and consultation with the city planners.

The top three floors of this World Trade Center building - the round floors comprising the revolving
lounge/bar on floor 33 and the mechanical floors 32 and 31 - will be possibly be re-faced with glass and
mirrors, and to be resplendent atop the building. At night, bright lights will be pointed up and out from
the lounge/bar roof, projecting up into the sky and able to be seen from the French Quarter and the
CBD. This light will be able to change color seasonally or at a single instance, so that it might change
depending on circumstances. However, the light will not shine ON the river or down on the city, or in
the guests of the lounge/bar or any other part of the building, so that it will not be offensive to people
trying to sleep, or work, or just go about their business. It will shine UP. This beacon will quickly become
a feature of the city, known by its citizens and its visitors. Lights have lit the building in the past, and we
will have our architects study what could be done without intruding on the guests who will now use this
building at night (as they usually did not do when it was only an office building).

We don't know of any other such visual light
landmark in any other city in the world.

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Possibly the most interesting new and creative undertaking will be the

Creation of the World Plaza -

tying seamlessly into the Spanish Plaza.

We intend to create the World Plaza, by removing the walls of the bottom three floors of the World
Trade Center building and expanding out onto the now-unused open space, so that there will be a
seamless expansion to the Spanish Plaza all the way through our building and out to Convention Center
Boulevard.

It is a real shame now that the wonderful Mississippi River waterfront is so little used. Such waste will
end with our plan, especially if the ferry terminal is moved, leaving space for a Mississippi River display.
If, as we ask (but not require or demand) in this proposal, the city will remove the ferry operation from
its present site, we will celebrate the Mighty Mississippi with a design on site now used by the ferry
terminal, that will historically inform as it entertains. It is our proposal that, once access to and from the
present Spanish Plaza is made easier, that such space (NOT under our control) be enhanced with
garden/flower overhang walkways, providing shade and fans during the hot summer days, and with
those walkways wide enough to invite artists, like those who don't presently have enough space at
Jackson Square, to come to Spanish Plaza. All entertainers and artists would be licensed by the city, as is
done now by the city. We would like to see this Plaza dedicated to the individual artists selling their
wares, and to a stage area which we will establish as part of our redesign of the first three floors, which
would host free jazz concerts of the music of New Orleans every night. The present Spanish Plaza area
would contain only the artists and the music and the existing food stores allowed presently by the city,
and no other commercial ventures, so that there would be the most room possible for the artists and
the people who will come to buy their creations. Each night we might have (depending on eventual
economic feasibility) a Mini Mardi Gras party throughout the new World Plaza. This will not only be an
attraction to visitors, but it will also entice them to Mardi Gras World and be a subtle invitation back for
the real Mardi Gras. All suggestions for the Spanish Plaza are only reguests on our part, as that space is
not part of the RFP nor of our response, and that space is not within our purview.

Something has to pay for this festive atmosphere, of course, and that will be our retail area, made from
the three floors opened up and become a part of the World Plaza, as well as the open space between
our building and Convention Center Boulevard. This will give us approximately 100,000 sq. ft. of retail
space, 75,000 sq. ft. net. The tenants of this space will be food and unique, quality, "New Orleans-like"
stores (not "luxury- too-high-for-average-folks-to-buy" items, but also not junk). First and foremost,
LOCAL stores that cater to the types of visitors that will be coming to the World Plaza will be asked if
they wish to open another store at our location. We want as many local merchants as possible, and as
few national chains as possible, although certain national chains would be appropriate, owned by local
business people. Certainly no fast food chains.

This retail has to SPEAK "New Orleans" and not look like every mall in America. For example, the famous
New Orleans' musical artist, Danny O'Flaherty, will be returning with "Danny O'Flaherty's Folk World,"
an authentic Irish bar with music from around the world. The inclusion of retail at the World Plaza that
attracts because of its festiveness, its free and other New Orleans music concerts and it artists, will be
noticeably enhanced by the retail component and make it even more attractive to visitors. We want

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them to stay longer in New Orleans because they have more to do, and spend more money because
there are more options.

We are very cognizant of the wisdom of good environmental planning and execution for buildings and
site. We ask you to notice the environmental awards and considerations all of our contributors have put
in their past endeavors. This project will utilize the best and latest green techniques and products
available.

The Interior Uses of this Iconic Building

The dominant force and focus in this 33 story building will be the luxury

Hotel/Resort

Comprising some 11 floors, plus a full floor of

restaurant and banquet rooms

(the 30 th floor) and the lounges/bars revolving and on the roofs. From among the final contenders, all
are undisputed leaders among the world's most luxurious hotels and resorts. We anticipate an initial
500+ luxury rooms and suites, superbly designed, executed and presented. This hotel/resort will be one
of the premiere hotels in the city. We are presently discussing this with five finalists, and will come to a
conclusion as to which brand it will be during the negotiating period with the city.

We previously remarked on the exterior look of the revolving lounge/bar on the top floor. Inside that
lounge/bar will be an exciting look - and nobody can create that better than our lead architectural
design firm, WATG, together with the wonderfully talented local design company, Perez - that will make
this one of the biggest draws in the city. We anticipate, further, that on one of the wings of the roof
there will be an outside lounge/bar, and on another wing of the roof will be yet another covered
lounge/bar, for special events, weddings or special corporate gatherings. The third wing of the roof
could be an herb and kitchen garden for the chefs at the hotel restaurants.

Adjacent to the hotel floors will be luxury residential rental units

We know the city is about to come into a need for such units, particularly as the new medical facilities
get built further out Canal Street and Tulane. Our realtor and marketer for these residential units will be
the premiere firm, Dorian Bennett Sotheby's International Realty, which is excited about possibilities
here. New people to town want to live in or as close to the French Quarter as possible. The amenities
provided these rental units will be the hotel amenities, including concierge and room service for the
rental units; and the hotel will manage the residential rental units. Leasing will be done by the on-site
Arete Management Company. Such a tie-in with Hotel and Resort will add enticements to prospective
residential tenants hard to find elsewhere. Moreover, the residential units will be designed in such a
way, and will be geographically adjacent to the hotel floors, so that - if demand for more hotel rooms in
the future should present itself - the residential rental units could be converted to more hotel units.

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The World Trade Center is expected to return to this building. In the past,

they have utilized about 3,000 square feet of space. We anticipate working with them to be integrated
adjacent to the internationally-themed area,

"Eyes On The World" - a new experience of
consulates from the nations of the world

Not like the usual anticipation of what a "consulate" will look like (wood desk surrounded by file
cabinets), each area of the world (e.g., Southern Europe, or Central America, or Eurasia) will have a
separate wing of the building (a quarter of a floor), which building was almost originally designed for
such an idea. Each wing, then, housing a specific geographic area of the world, will have a stage area in
the center - perhaps with a map of that area on the ceiling or on the floor - and perhaps occasional
artists or shows from the area. Around the outside of the lounge will be the country desks of the
nations that comprise that geographic region. But their "desks" will not be what is usually envisioned by
"desk." Instead, they will be interactive staged areas with computers and visual accoutrements to bring
alive those nations at this place. Citizens of those nations can come there to conduct business with their
home governments, other citizens can get visas, or find what products are sold there that they might
need, or find optional partners to joint venture with. This will be a new endeavor on the world scene. It
will also be designed in such a way that it too is a tourist attraction - an opportunity for nations of the
world to market themselves.

This idea has been test presented at several embassies in Washington, DC to evaluate their interest, and
we found that such interest is pointed and strong. Nothing, however, can ever be done with embassies
until it is not a "what if" but rather a "done deal" inviting them in. Only then will they really consider this
proposal and officially react to it. However, from our experience over the past thirty years in
international relations within the countries represented to our government in Washington, DC, we are
certain this can be accomplished, with great participation of most foreign governments and/or their
chambers of commerce.

We will be utilizing the four-floor Eyes on the World consulate presentation, not just for business and
tourism, but also as a tourist attraction itself, with visitors paying an entrance fee for a look at most of
the nations of the world showing their country's best face. Consulates will constantly present
information and culture about their respective countries (not unlike a much smaller version of the
country displays at DisneyWorld's Epcot Center, World Showcase). This would bring many more tourists
to Eyes on the World. There would be direct access from the plaza to Eyes on the World (not using the
building elevators), and a grand entrance at ground level. For business visitors and others doing direct
business with the consulates, they would use the elevators for a private, free entrance.

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The Attraction of the New Orleans World Plaza

World Plaza will be 100,000 square feet,

joining Harrah's and Convention Center Boulevard
to Spanish Plaza and the Mississippi River

on over two acres, considering the three building floors and the outside plaza extensions, of
entertainment space from the World Trade Center building, plus whatever more is able to be added at
the foot of Canal Street, and yet more if the ferry terminal operation is removed. We intend this to be
an entertainment and recreational draw like no other in the city or in the world. Every day during the
daylight hours there will be artists and their sales, enhanced by the World Plaza retail operations, open
all day and providing sales of the things people come to New Orleans to enjoy. Each evening there will
be light shows and the celebration of Mini Mardi Gras (if economically feasible after negotiations with
the city), with parades, beads, music and dancing. Danny O'Flaherty's Folk World will have top live
musicians from around the region and the world. The retail will be going strong. The city will issue
permits to unique and unusual entertainers and artists in the city who would not have a stage of their
own. They can get their licenses from the city, as they do now for other locations, and they will not be
paid. This will be the kind of entertainment spot that nobody who visits the city would want to miss. It
may be that not every visitor wants to walk the French Quarter every night, so this gives them
something else very attractive to do.

Because the design, execution and constant expression of this entertainment area will be clean, family-
oriented, of excellent design, safe and fun, it will set an additional new source of good reputation for the
City of New Orleans, one which travel writers will praise loudly. And, thus, it will bring more business
and tourism to New Orleans.

The Focus, Interest and Dedication of the Principles of this Proposal

We are people who like to do big things, things that make places better, things that are fun and noble to
do. We want to make money for ourselves and for the city, of course, but we also insist along with that,
that if we are going to spend the effort and time to do something, let's do the BEST thing we can do,
something that will enrich the lives of others and present them options to grow in experience,
knowledge and compassion. That is what we want here. It's the only kind of work we are interested in.
We know this is the place, and we know we can pull this off. We want the city and its citizens to look at
this and be proud of it. We will do all that, and so ask that you select us as the winner of this bid and
negotiate a lease with us to develop this magnificent site with the vision we herein put forth.

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6. Balance between Commercial Uses and Civic Potential /

Description of Use of Space with Design Elements for Civic and Community Benefit

Commercial uses are appropriate to the business of city living and production. They provide
taxes to ensure the continuation of an orderly, dynamic and growing community. They provide
incentive for individuals and corporations to make profit and to make yet more things happen.
Obviously, commercial usages are a large and substantial part of this proposal. They are:

A luxury hotel

Lounges, bars, restaurants, banquet and meeting rooms
Approximately 100,000 square feet of retail

Office rental space - for international consulates, top businesses and
non-profit corporations
Residental rental units

Uses which are of Community Benefit are pervasive in this proposal:

Meeting rooms and banquet rooms to induce more tourism and
provide enhanced options for local users
A rooftop bar and lounge which will be a focal point in the city
Consulates from nations around the world, anchored by the World
Trade Center New Orleans, will encourage international trade, serve
foreign and US citizens in their travel, further international business
joint ventures, and provide an attraction about nations from around
the world with exhibits and entertainment - a new level of tourism
for New Orleans

The expanded World Plaza, extending from the river and the Spanish
Plaza through three floors of our building and all the way to
Convention Center Boulevard, and - perhaps - including area from a
moved ferry terminal, will produce one of the city's grandest daily
and evening draws, and provide the city with a spectacular fun draw
for tourism

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7. Plans

Given the decisions still to be made regarding this building between the developer and the city,
each of which would materially change the design and/or uses, and given that no such decisions
can possibly be made outside the context of negotiations with the city following winning the
bid, we are therefore only submitting preliminary design, together with conceptual photos
gleaned from similar ideas, very early renderings sure to change, and an array of options. All of
this will be solidified DURING and AS we negotiate with the city, to determine what the city will
allow and what would be the city's and our mutual priorities for this building and the design
environment we propose.

After you have reviewed the qualifications for the primary architectural firm, Wimberly Allison
Tong & Goo (WATG), and with our other premiere, local design firm, Perez (a woman-owned
company), you will note that the capability to produce a design totally in keeping with the city
of New Orleans is most evident. We emphasize that the final design will be in keeping with the
character of New Orleans, a unique city like no other. Whatever changes will occur during the
contract negotiation state, we know that they will be made in conjunction with the city. This
city has its own architectural character. There are many wonderful design firms, some of which
we interviewed as a part of this process, but whose designs simply do not match the temper of
this city. Some designs might look wonderfully breathtaking in New York or Miami, but they
would not fit here. Ours will fit New Orleans. When we have finished negotiating and will have
signed the contract with the city, the preliminary design will be done, will be signed off by both
the city and us as developers; then and WATG and Perez will begin the final design work.

It should be noted that we will ask that the design submissions and permitting be done on a fast
track basis, so that it does not all have to be done before we begin work on the first segments
of the job. We can begin phases as later phases are being submitted for approval. Design will
be done so that the first plans for the first phase will be completed, as the next phases are
being worked on, so that the construction begins before all the stages of the plans are finalized.
We want to get moving fast, and to be able to celebrate the Tricentennial - with as much open
as possible.

However, while we cannot yet reasonably and fully predict exterior visages of the 33 story
building itself, we do present a preliminary concept of the building, opened up on its lower
floors and sitting in the midst of the World Plaza and the Spanish Plaza.

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Exterior Elements

(Considering the exterior changes, please keep in mind the following:

There are several uses planned for this site in our proposal. We wish to emphasize that the luxury hotel,
the luxury residential units, the offices for the World Trade Center and the other offices to be located
here are guite different from the public uses of the revolving lounge/bar at the rooftop, the Eyes on the
World tourism attraction and the grade level/first three floors of public retail. The Luxury hotel, the
luxury residential units, and the offices will have a completely different access than the public places;
this private access will be located at a lobby and motor court entrance located on the upriver side (the
right side) of the building, looking from Convention Center Boulevard, and will be another world from
the public areas. All the public access will be through the escalators and elevators located in the center
of the newly-expanded World Plaza that extends into the building itself.)

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The revolving bar lounge on the top 33 r floor of the World Trade Center is tentatively proposed to be
stripped and re-clad with a clear glass and mirrored panels. The above left photo shows the concept on
a square building, but the revolving lounge/bar is, obviously, round at our site. The portions not utilized
by the bar/lounge itself, i.e., the utilitarian areas on floors 31 and 32, will all be of the same glassed
material, three floors as exemplified in the photo above left. (All hurricane-proof, of course.)

On the top three glass floors, colored lights will be projected out from the roof UP, as shown below, to
produce the effect of a beacon of light, able to have color changes at various seasons - and multi-
colored vibrant and ecstatic during Mardi Gras. This beacon will be able to be seen (but will not shine
ON, or be obtrusive) from within the French Quarter and the Central Business District, and will become a
landmark in New Orleans.

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The round top should become clear glass, as exemplified above, and color light (changeable) projected
up. Nightly on the hour there would be a light show, where, possibly, 1) the light from the top (see
above) would change colors in a light show, while 2) the light show on the ground levels would imitate
that same show in the festive "Mini Mardi Gras" being held nightly, and, additionally - if permission can
be granted from authorities - a simultaneous third matching light show below water in the Mississippi
River just off the Spanish Plaza. (Even a muddy river can radiate underwater light.) To protect the
architectural integrity of the building (as well as the historical tax credits) and the exclusivity of the hotel
and other upper-level and mid-level building components, the building itself would not become a light
show.

This site is over 12 miles from the Louis Armstrong New Orleans International Airport, and the lights
should not provide any concern to airport authorities. If the FAA eventually does have any concerns, we
can always keep the lights but have them only shine lower in the sky.

Two of the wings of the roof will be utilized to provide an outdoor public lounge area on one wing, and,
on the other side, an enclosed area for private rooftop parties. One wing of the roof will be a herb
gardens for the gourmet restaurants in the hotel. One wing of the roof could possibly be a complex of
gardens and pools, if better spots below are not achieved.

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THE EXTERIOR ARCHITECTURE OF THE X-SHAPED BUILDING FACADE

There is another fundamental reason why final architectural renderings cannot not be offered
in conjunction with the submission of this bid. It is because we are not yet certain what
constitutes the historic totality of the building. We are inclined to believe that the exterior
cladding of the building - the concrete and elongated windows - are not crucial to the historical
nature of the building. Perhaps the verticality of the design is. The building was designed by
Edward Durell Stone. Mr. Stone's senior partner at his architectural firm and his fellow architect
on all his designs was Peter Capone, AIA. Mr. Capone is the only living partner of Edward Durell
Stone, and he is a consultant to our team for his knowledge of Mr. Stone's work and intentions.
Mr. Capone states that the cladding and windows were almost afterthoughts to the design; that
the "X" shape of the building was its distinguishing feature. We will be working with WATG and
Perez, and with local historical consultants and historical tax credit attorneys to determine to
what degree historians agree that this is so.

We probably will not replace the exterior cladding in any respect, so as not to lose the historical
tax credits associated with this building, and because it can be upgraded and made beautiful as
is. The only exterior building changes will be to the lower three floors, opened and beautified.
The determination of this matter is not something done quickly. It is not possible to arrive at a
historic character determination by the time the bid was to be submitted, but such
determination will be made within a few weeks into our negotiations with the city.

Our MOST important design element is that
we will open up the entire lower three floors
of the building, and, using the World Plaza, tie
it seamlessly to the Spanish Plaza.

Mayor Mitch Landrieu has said, "I hope the future of the city involves an open space." And "we plan to
take the World Plaza and the lawns and land between this building and Convention Center Boulevard to
their highest and best use that invites the most people to participate in it." Here we give that to him and
the city in abundance.

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Of crucial importance here is that this open space we will be providing the city is USABLE open space.
City after city in America has open space that nobody sees or uses. They have open space that nobody
wants to go to because they are boring. Our open space will be like the city of New Orleans: active,
alive, fun, in constant motion, filled with ingenuity, creativity and surprise.

Because the entire lower three floors of the building would be opened up, extending seamlessly with
the World Plaza, the front of the World Trade Center building, facing Convention Center Boulevard,
would become the opening face to New Orleans. Canal Street will terminate at the renewed, opened
up. World Plaza - running all the way from Canal Street and Convention Center Boulevard and Poydras
Street, straight through to Spanish Plaza and the Mississippi River.

BOASTING THE CITY: PROCLAIMING ITS GRIT, ITS VERVE, ITS DETERMINATION, ITS FEELING

On the street side of the extended plaza, in a stand-alone setting, a large LED video screen will be within
a glass elevated presentation structure, facing up Canal Street, with a continuous-loop video showing of
people interacting, laced with scenes of the history of New Orleans, the fire and beauty, the adventure
and bravery, the mixture of peoples and love of life, people smiling and acting neighborly. The final
video screen, before re-looping, would state "Our Center is our Heart." This would be the standard
video playing, but periodically another could be shown. We anticipate this to be a free-standing glass
structure, elevated from the ground, at the foot of Canal Street. The video and statement could be two-
sided, and the back side of this convex monument be an attraction in itself at which the video, with
sound, would be a draw for visitors. Some of the lower three floors of our building will remain intact as
truck delivery, core operations, and unexcavated space. The escalators will be refurbished and wide
stairways added, together with handicapped access.

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At the main entrance to World Trade Center, at the same display as the video (see below) would be a
large inscribed statement with these words (draft! ... to be reviewed and approved by the mayor and/or
city council and any other appropriate agencies):

Our center is our heart. This center city has
always expressed the joy and the love of the
people of New Orleans. It shines to the people
of Louisiana, the USA, the Americas, and the
world to say: WE LOVE EACH OTHER. WE CARE
FOR EACH OTHER. WE HELP EACH OTHER. WE
LISTEN TO THE TUNES OF OUR SOULS. And we
thank you all for sharing our joys and enriching
our lives.

This would certainly be like no other attraction to visitors to New Orleans and give them a most
positive (and true) impression of the people and its city. It would tie the party atmosphere
reputation to human joy, uplifting while not overbearing. On the other side of this monument
facing Canal Street, would be the same video, this time showing, with sound, to guests seated
around outside unbrella tables (and inside, air-conditioned space tables with windows open)
savoring the historic video of the history of New Orleans. This will be one of the anchors to
our World Plaza retail.

(The architectural firm
FXFOWLE - who is
possibly assisting another
bidder in this RFP -
created this, and we use it
only as an example of a
similar kind of artistic
glass structure that our
architectural firm will
create to showcase the
video of the city history
and the engraved
declaration of the city
character.)

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This plaza is the focal point of the Riverwalk. The city already wants to turn it into a place of
celebration, so we propose a sunset celebration each night with a small nightly Mardi Gras .
There will be free New Orleans jazz concerts nightly emanating from the open windows of the
night clubs of the World Plaza, entertaining guests to the World Plaza free. On the Spanish Plaza
itself, we propose entertainers, singers, musicians, sundry and unique entertainers who will
attract and entertain. The city may issue permits to perform here, as they do elsewhere. IMAX,
the Audubon Aquarium, Riverwalk, and other current vendors/stores should like this as it will
attract thousands of new visitors to their stores.

Easier access to this riverfront plaza is
achieved by making the first three floors of
the World Trade Center building open, see-
through and a pass-through to the river plaza.

This will allow the World Trade Center to capture much in retail sales as people flow from the
Harrah Casino, the streetcar stop and other Riverwalk venues through the plaza. We will have
bars, food, products, permanent sales stations and kiosks on our property. It will also include
live music shows, such as Danny O'Flaherty's Folk World (see below), and the New Orleans
historical video shown outdoors at one of the club patios. We will provide shade as a relief from
the direct sun during the day. If the city sees fit to move the ferry terminal operation to some
other location, then expansion and opening up of World Plaza will also incorporate passage
through the ferry landing access to provide greater access to Audubon Aquarium, the park
and IMAX, and we will have our architects work with the city to this effect. Of course, the best

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option would be the removal of the terminal operation to another site, allowing us to
incorporate that space into World Plaza as well, and we ask - but do not, and could not, "demand" -
that of the city. The first floor also will provide a covered area, protected from rain and sun, for drop off
from cars, taxis and limos.

The above photo shows the lower two levels (below the overhang of the building) which will be
opened up and connected to Spanish Plaza by stairs and handicapped walkway. Safety will be an
important consideration and factor. Above the platform, the third floor will also be opened up.

The open air Spanish Plaza in the New Orleans heat and humidity needs shade options for comfort,
lush gardening for maximum attractiveness. We urge Spanish Plaza to incorporate landscaping similar
to what is shown below, and we will work with the city to allow us and the Riverwalk operator to
upgrade the existing riverside of the Spanish Plaza to follow suit. Because we recommend space for
artists at Spanish Plaza, like at Jackson Square, as much shade for them and for visitors as possible is
important, creating a walk the tourists will use to view artists' products a most enjoyable one.

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There are tracks - not attractive - on each side of the building running parallel with the river. Two
platforms will be extended out from the building, at the level of the current third floor overhang,
covering these tracks. Trains run here twice daily, and the streetcar stops right on site, going from one
end of the business district of New Orleans through the French Quarter.

On one side, on the platform near towards the Hilton Riverside Hotel, might be a small, luxurious set of
pools and small tropical waterpark for hotel guests, residents and members of a private club run by
the hotel, if that should be decided to not be placed on the rooftop. This pool/waterpark would
overlook the river and would offer swim-up bars, food, Caribbean and jazz music, yet away from public
view. It should have reciprocal welcome for members of other exclusive clubs around the world. There
are very few water-immersion attractions in New Orleans, none in this exclusive range. This would be
managed by the hotel.

World Plaza retail, a section of that which joins various parts of our site to the Spanish Plaza with the
new and extended terraces, will be built on a platform over the tracks on the other side of the building.

Formerly, some resistance to covering the streetcar tracks was raised from the Department of
Homeland Security. We find no un-solvable problem here. The building itself already covers a large
portion of the tracks, and this would be simply an expansion of that present use, at 22' above the tracks.

Additional to the creative architecture to be put forward by our architects, one practical problem will be
solved. The expanded Spanish Plaza is going to bring a great deal more people to this site, crossing over
to the river side. Crossing the tracks with such numbers and commotion will be safer. We will devise
safe track crossing locations within our confines, using escalators, stairs, elevators and handicapped
access, going through to the third floor and down again.

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Parking, Access and Grade Level Ingress/Egress

One significant problem with the site is that the city leased the parking
garage that went with this building to the Hilton Hotel through 2019.
The parking building that was designed with this building and was
designed to park cars using this building is no longer a part of the site,
leaving no parking for a 33 story building. Our development team has
come up with four possibilities for parking . We have these four options
to solve this parking problem, and will be using perhaps one solution
separately, or mixing and matching among these solutions. We cannot
make any determinations in this regard without the city's approval for
some of the more logical solutions, and so we only at this point present
the options, knowing that we will have to work this out with the city,
should we win the bid. We can say this: among these four options, there
are several solutions ... we would like to work with the city on the most
logical first.

OPTION 1: RENEGOTIATING THE HILTON/WTC PARKING LEASE

The WTC observes that the original WTC parking garage now leased by Hilton is never full now, and was
never full when Hilton used it under lease from the World Trade Center, back when the WTC controlled
it, and let all the tenants at the WTC building park there free as a part of the lease from WTC, in addition
to the Hilton guests parking. We would like to negotiate with Hilton Hotel and the city as a team (Hilton
and us - WTC is for whom the parking garage was built - together) with the city for a new lease, to
replace the existing one that will expire in 2019. If Hilton does not want to do this, the city has ways to
encourage them to do so. Such a three-way negotiation would only occur after a detailed study of the
parking options at that garage.

OPTION 2: ADDING A LEVEL 2 AND PROVIDING OUR VALET PARKING IN THE "EXPRESSWAY" CHAMBER

There is currently an underground, formerly-planned "expressway," owned by the city, leased by
Harrah's, in the street between our subject building and Harrah's Casino. Our local architect, Perez, was
the architect for Harrah's. Harrah's now uses it for valet parking. We have been told that it might have
enough height that a second level could be added which we could use. This will be a design
consideration, and, because it would not be readily visible to guests, the second level we might build
there, if allowed by the city, would also be used as valet parking by us.

OPTION 3: BUILD A GARAGE ON SITE

Build a separate parking garage to the right of the building front facing Convention Center Boulevard.

OPTION 4: BUILD A SMALLER GARAGE / CONNECT BY RAMPS TO GARAGE FLOORS IN WTC BUILDING

Build a smaller separate parking garage at the same location as described in solution 3, but rather than
build the garage at that site to accommodate cars, rather use it only to connect it to mid-level floors of
the 33 story World Trade Center building, which would have a few floors gutted and used for parking
(rather than for residential or commercial space, but indiscernible as parking from the outside).

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Floor by Floor Description of Uses

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33 Floor BAR / LOUNGES (Section 1 below)

32 Floor (Mechanical)

31 Floor 2 wings: ROOFTOP LOUNGE/

ROOFTOP OPEN-AIR BAR
1 wing: LUSH POOL COMPLEX
1 wing: HERB & CULINARY

GARDEN FOR RESTAURANT CHEFS
(Section 1 below)

30 Floor RESTAURANT/BANQUET ROOMS

(Section 1 below)

26-29 Floors RENTAL RESIDENTIAL (possibility to later
be converted to hotel or office)
(Section 2 below)

14- 25 Floors the LUXURY HOTEL (Section 3 below)
11-13 Floor RETAIL OFFICE SPACE

(Section 4 below)

7- 10 Floors PARKING GARAGE (this may change
depending on City parking decisions)
(Section 5 below)

4-6 Floors "EYES ON THE WORLD" - consulates in a
new environment, promoting business
and tourism to their own citizen/visitors
and to American and other country visitors
and TOUR OF THE NATIONS tourist attraction
(Section 6 below)

1-3 Floors THE WORLD PLAZA - OPEN SPACE/RETAIL

(Section 7 below)

WITH DONATED SPACE TO THE WORLD
TRADE CENTER ON FLOOR 3

In sections to follow, each of these programmatic uses will be described, from the top floors
down to the lowest floors, in order.

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Floor plans indicate floor restrooms 700 sq. ft.

2 wings (not counting shared core): 95' long x 70' wide @ 6,650 sq. ft 13,300 sq. ft.

2 wings (not counting shared core): 85' long x 70' wide @ 5,950 sq. ft 11,900 sq. ft.

X 4 wings per floor (= approximate rentable/useable space) 25,200 sq. ft.

80' x 60' est. common core on each floor (elevators, lobby, etc.) 4,800 sq. ft.

(includes 700 sq. ft. bathrooms shown in core, abandoned on some
floors' future usage)

Gross Estimated Total floor 30,000 sq. ft.

Approximate square footage:

Restaurant floor 30,000 sq.ft.

Revolving lounge/bar 10,000 sq. ft.

26 floors x 30,000 sq. ft. for hotel/commercial 780,000 sq. ft.

3 net lower open air floors (some not full) for retail 85,000 Sq. Ft.

Estimated GROSS building square footage 905,000 sq. ft.

Note: Rentable square footage will be determined when design is complete for the various component
uses.

Note: we are aware of the potential problem of the stairways as configured now. There are two
stairways in the middle of the building behind the elevators. However, the fire marshal may require
stairways in other area(s) to meet fire safety standards. We will work with the fire marshal to satisfy his
requirements. This is not as difficult to solve - if it turns out to be a problem after our floor designs are
preliminarily designed - because this building has more elevators than needed, and we could use one or
more of them to create new stairways. This is an unresolved matter for our design team. It is
something we acknowledge and state that we will remedy if required to do so.

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Section 1

33 Floor: BAR / LOUNGES

31 Floor: OUTDOOR LOUNGES/GARDEN

30 Floor: RESTAURANTS/BANQUETS/MEETINGS

The hotel will operate the top inside revolving
bar, the open air top deck lounge/bar and the
covered rooftop lounge/bar overlooking the river,
in conjunction with the hotel. The hotel will also
operate the public dining rooms and banquet
rooms, and private dining rooms and banquet
rooms located on the full floor below the
restaurant. The developer will work with the
World Trade Center to incorporate their Plimsol
Club as a part of the restaurant hospitality area.

All these ideas will be improved upon by our
interior and exterior architects. The top round,
rotating section will be a lounge/bar. The
enclosed floor just below, in four wing extensions,
will be fine dining, private dining, and banquet
rooms. The rotating bar, and the two round
mechanical stories below it will be glass and
mirrors, but above it the colors will change as
inspired. It will be a marketing magnet, as well as
the singular reference for the city, its new logo, its
calling card.

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It"

One proposed concept for
the interior glass entrance
to the restaurant, with
changing seasonal colors

In the old Windows of the World restaurant and club atop the World Trade Center New York (pre-9/11), the club
entrance was a glass wonderland (reminiscent of Superman's crystal northern retreat). It was incredible to see.
That is an idea worth repeating.

ROOF

One rooftop wing will be a covered lounge/bar, impervious to the elements, and of a special nature (raw bar,
entertainer, special events, etc.). This is most probably the wind facing the river, so as not to be obvious from Canal
Street.

A second rooftop wing will be an herb and vegetable garden for the 30 th floor restaurant chefs' use. This will most
probably be the wing closest to Canal Street, so as to be unobservable from below.

A third wing will be for an outdoor gathering area for special events, protected by a high glass surrounding for
safety and for wind protection.

The fourth wing will be for a lush, jungle-like complex of outdoor pools and a lazy river for use by the hotel guests,
the residents of the rental units in the building, and by others who might purchase a membership. The roof will
open and close according to the weather. It too will be protected by a high glass surrounding for safety and for
wind protection.

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Section 2

26-29 Floors: RESIDENTIAL RENTALS

The hotel will manage the luxury rental units on site, offering for tenants' use the same restaurant, pool and other
facilities as the hotel. There is a need for luxury residential rentals. There are two all-new hospitals / medical
centers / research centers being built now in New Orleans, on a total of approximately 60 acres. They should have
at least 8,000 new good-paying ($100,000 or above) jobs, and there will be a need for good housing, especially
good rentals. That will tie right in to our use.

These four floors will have 42 one bedroom, one bath units. There will be 46 two bedroom, two bath units.

Entrance to the residential units will be from Convention Center Boulevard, the side toward the Hilton, with a
private motor court and entranceway. This entrance will be the quiet entryway for the hotel, the residential units
and the office buildings, and will be completely separate from the tourist attractions of the World Plaza and the
Eyes on the World nations' tour.

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Section 3

14-25 Floors: THE LUXURY HOTEL/RESORT

All the amenities expected of a hotel of this class will be present, including a high-end spa, lap
swimming pool, outdoor garden pool area, etc. We present photos from the hotels with which
we are in final discussions, one of which will be the manager of the luxury hotel. Our luxury
hotel/resort at the New Orleans World Trade Center building will be of like exactitude and
magnificence as the best residential units in the French Quarter of Central Business District.

It should be noted that we have been in direct talks with five major, well-known luxury hotels,
which we are discerning which would be the best fit here. We have not asked any hotel brand
to reveal themselves prior to our winning the bid, because that would put brand names of this
caliber in awkward positions. They have a different disposition on putting themselves out to
the public until all the unresolved factors (such as who will win a bid) are resolved. We can say
this categorically: our hotel will be a luxury hotel, and it will be announced upon negotiations
with the city regarding specifics of this part of our proposal have been resolved and then
cleared with those we are considering. It will be a hotel not presently in the city.

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Section 4

Floors n-15: LEASED OFFICE SPACE
Partial Floor 3: DONATED OFFICE SPACE: WORLD

TRADE CENTER NEW ORLEANS

The developer is offering approximately 3,000 square feet of office space, free, to the World Trade
Center New Orleans. WTCNO makes a significant contribution to the quality of life in New Orleans,
creates jobs for its citizens, and contributes significantly to the city's prestige and livability. This offer is
one we make willingly and with a sense that it will contribute to a greater New Orleans because of the
significant work this organization makes to the city and the region. We wish it to be an integral part of
the re-development of this site.

We are delighted that the World Trade Center New Orleans has expressed an interest in returning to

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this building so closely identified with them for four decades . In New Orleans, no matter what
happens here, this will always be "the World Trade Center building." We have spoken with their
executives and believe that when their lease expires, they will work with us to return here (see letter in
the Attachments below). We will welcome them with open arms and create an environment for them
that will be heads and shoulders above what they might expect. Moreover, we anticipate being able to
charge them (and the other non-profit we will invite to this office space) NOTHING for their leases. This
is part of our offer to the city and to NOBC.

With the return of the World Trade Center New Orleans to this, their original building, the building will
once again be called The World Trade Center. Flags of all nations exhibiting with offices here will be
flown outside, all day and all night long and lit at night. The private main entrance lobby of the building
may have a floor-model relief map of the world, three-dimensional, actually down in the floor, showing
mountains and plains, oceans and valleys. The depths of the relief map will be sunk into the floor and
covered with a polyurethane surface, so that the floor is smooth, but the visitors are gazing down (and
walking on) a 3-D map of the world.

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Section 5

Floors 7-10: PARKING GARAGE (option)

The option of part of the parking garage being inside the 33 story building has been discussed elsewhere
in this proposal. It would be our preference to not have to place any parking inside this building, and we
will work for some other parking option(s). But it remains an option if all else is unsatisfactory, and so is
necessarily put into these preliminary proposals to the city, until the parking issue is resolved.

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Section 6

Floors 4-6: "EYES ON THE WORLD"

Business Development and Tourist Attraction

"EYES ON THE WORLD":

A LEAP FORWARD FOR CONSULATES

Before 9/11, before Katrina, and before the Great Recession, foreign consulates were already beginning
to close down their consulates in New Orleans, largely situated in the World Trade Center building, as
the building was being allowed to deteriorate. Because New Orleans is in a resurgence, and is once again
a magnet for visitors, both business and pleasure, many embassies are interested in having their
consulates again at this site. The developer has taken an anecdotal sample survey of embassies in
Washington, DC, asking how many were interested in this consulate possibility in New Orleans. Five out
of seven were.

Only after we secure the contract with the city will we be able to pursue this further. Embassies will not
take the time to talk about a possible opportunity of this sort, only a real one. The Managing Member
of the James H. Burch LLC was the founding chairman of the World Trade Center Washington, DC, he
lives in metropolitan Washington, DC, and he is familiar with dealing with embassies and world trade
organizations, and he feels confident this is an avenue that would prove out because the desire on the
part of embassies to be involved in this proposal is real.

Therefore, we will offer regional shared space for "consulate desks" of all the nations from around the
world. These consulate desks would be surrounding a large comfortable reception area for the visitors
of the countries in each pod and the Americans who might need to visit a consulate for a visa. Each desk
could be manned by a single person, with a file of information, Internet and printer for the consulate
official familiar with his/her home country, to serve business and tourism needs. Because the World
Trade Center tower is four wings, each wing would house various regions, e.g., 1) Eastern Europe, 2)
Western Europe, 3) Mediterranean, 4) North Africa, 5)West Africa, 6)East Africa, 7) Near East, 8) Far
East, 9) South Pacific, 10) Central America, 11) South America, and 12) North America.

The old way of doing consulate work was anachronistic and not cost-effective, to say nothing of its
business face being unattractive. In our plan, each world geographic region (as per above) would have
one 4,500 sq. ft. wing of a floor. In that wing, the floor plan would be completely open with a lounge
area in the center or offset sometimes. On the ceiling over the central lounge area, or perhaps on the
floor, would be a backlit glass map of that region. 10 to 20 countries per wing area would each have a

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display area with interactive devices for both their visiting fellow countrymen and for others who want
visas, information on products sold in those countries, opportunities for investment in those countries,
travel information, etc. This interactive space could run by itself, but would also be designed to have a
consulate officer on duty, or perhaps an intern from the exhibiting country. In this way, the consulate
footprint and staffing requirement would be small, and the attraction to that country's offerings great.

Having consulates also enables the legitimate use of country flags, outside on the World Plaza, of those
countries with consulates at the World Trade Center. This will add an air of festivity and allure.

In addition to being the place of business and tourism as described above, there is another key reason
that embassies of countries from around the world will want to create their own interactive consulate at
Eyes on the World at the World Trade Center New Orleans building: hundreds upon hundreds of
thousands of relatively affluent (i.e., travelers) will pass by their national displays.

Eyes on the World will become a tourist
attraction itself. Each country will have its
own unique architecture and national
entertainment shows ...

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(e.g., movies, displays, etc.) either on a constant showing, or on a rotating basis with other area
countries, or both. A modest entrance Fee will be charged to the visiting public to see these exhibitions.
The exception would be that country's visitors or other business travelers or tourism prospects who
have business to do with the consulate, and would be afforded a private entrance without payment. In
this way, this segment of the World Trade Center would provide yet another tourism attraction to New
Orleans which is not now present, and would further tourism in the city. Moreover, consulates will be
offered a discounted lease rate to lease space and provide their national presentation. Larry Boudreaux,
COO of the World Trade Center New Orleans, has suggested that foreign students studying in New
Orleans would be interested in serving as interns at their respective country's display, thus enhancing
their resumes for later work, while contributing to the international flair at the Eyes on the World.

New Orleans is a natural for international trade, because of its geographic location, the volume of trade
that comes by the Mississippi River and by air, and because of the already-large number of tourists who
come to the city for other reasons. These tourists will be introduced to the products of other nations.
They will see how people in other nations live. They will learn and enrich their understanding of the
world which we all share. Additionally, a whole NEW SET OF TOURISTS will be drawn to New Orleans,
people who do not consider coming to New Orleans. Either specifically for this Eyes on the World
attraction, or as the final motivator that brings them to New Orleans among other reasons, Eyes on the
World will bring MORE tourists to New Orleans.

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Section 7

Floors 1-3: THE WORLD PLAZA

PLAZA LEVEL/OPEN SPACE RETAIL

THE WORLD PLAZA WILL BE A PLACE OF CELEBRATION

WITH RETAIL AND A MINI MARDI GRAS PARTY EACH EVENING

JOINING TO AND ENLIVENING THE SPANISH PLAZA

The area of Canal Street as it reaches the Mississippi River has a rich and diverse place in the city as
profound to New Orleans as Wall Street or Central Park is to New York City, or Buckingham Palace to
London. This future cultural place of CELEBRATION along the bustling Mississippi River waterfront is
situated at the gateway to the center of the United States. The immediate neighborhood is the fulcrum
of attractions, shops and restaurants. Diverse year-round events will be easily accessible by streetcar,
and by the easy walking distance to so much of New Orleans' core. THIS NEW WORLD PLAZA WILL NOT
BE IN COMPETITION TO ANY OTHER RETAIL NEARBY; IT WILL BE UNIQUE, ONE OF A KIND. Concerts,
street performers, boating, bike rentals, summer and winter celebrations will abound, because the spot
is a natural for them. The new World Trade Center and new World Plaza will offer visitors and shoppers
an unparalleled New Orleans experience that is destined to be compelling to tourists and residents alike
for the rest of New Orleans' history to be made.

A sense of the district's gritty and boisterous past as New Orleans' workplace that touched the world
also lingers in some of the area's oldest commercial buildings, and just the feel of this place along the
river. Nearby brick and stone structures also have historic ties to the rest of the city. The French
Quarter/Central Business District divide has long been a laboratory in which historic preservation has
taken place alongside development. Spanish Plaza, Riverwalk, Audubon Aquarium, IMAX, One Canal
Place, and Harrah's Casino, among others, blend with mixed-use preservation and development. Each
project has explored new designs while drawing on the visual richness of this one of a kind city in
America.

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ANCHORS

Because the retail component of World Plaza is not to conflict with the retail of Riverwalk, or to be
anything like the Riverwalk retail, our businesses will be carefully chosen. This is the uniqueness of the
Plaza retail: FABULOUS ANCHORS BUTRESSED BY UNIQUE STORES. The anchors will be the draw, and
the stores will fill in the draw. Therefore, our anchors will be big entertainment draws:

1. A Stage/Broadcast Kitchen, with room for an audience . Here broadcasts of cooking events will
be staged - perhaps on the Food Network of some other TV network - by "the Famous Chefs of New
Orleans." This is a great way to strengthen and extol the great culinary art of New Orleans, and it can
offer culinary certificates to participants. It will attract yet more tourism to New Orleans, and attract
many tourists to the plaza. It will be built with glass walls so that visitors walking outside on the plaza can
see in and watch the cooking classes, and even hear them by audio broadcast outside on the nearby
sidewalks. Not only is this to be an attraction for cooking lovers from around the country and around the
world to come to New Orleans to get certificates of completion of one day, one week or two week
culinary classes, but it is also intended to attract tourists who will come to see something so unique going
on. This will especially be true if we can get some of these classes broadcast over a network, the Food
etwork or some other network's new New Orleans cooking classes.

2. Three Night Clubs will have music and entertainment nightly, and they will have windows that
open up, so that passers-by can hear and appreciate the music, without even coming inside . The night
clubs will be designed in such a way that passing by will even have a feel of participation. This will in no
way subtract from the people who will wish to come inside, sit down, order something and stay awhile,
n fact, it will enhance that. But these night clubs will be purposely designed, within the first three floors
if the building itself, so that they draw visitors to them, making it easy to move on to the Spanish Plaza
nd the Mississippi River waterfront. The nightclubs themselves, will not only be entertainment venues

INSIDE, but they will float their music and their atmosphere throughout the expanded plaza life.
Depending on demand, live music may be added to one or the other of the clubs by day as well. One of
these night clubs will be Danny O'Flaherty's Folk World, featuring entertainer Danny O'Flaherty, who
won his way into the hearts of the city and its citizens for nearly two decades and now returns to great
welcome (information on a following page). Also, the historical video at a club patio, as described earlier.

3. We are going to explore with the owner (whichever entity that might be) of the Fountain at the
Spanish Plaza the possibility of adding music and computerized water sprays in place of steady water
sprays, to create "Dancing Fountains" shows every hour . The economic feasibility of this will be tested
to see if it is possible, and if it is we will ask the city to assist us to get permission for us to add that to the
existing fountain works. It may be something done by others or in concert with us.

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4. The video which shows the history of the city of New Orleans will be projected both ways, so
that not only will it attract people coming down Canal Street and from Harrah's Casino, but it will also
show on the other side of that glass monument to be built, toward the river side, with narration and
sound for visitors to come and see. What local or tourist would not want to come to see this?

5. The Eyes on the World attraction that will have architecturally enhanced replications of
countries from all over the world, together with those countries consulate representation for business
and tourism enhancement, will feature presentations from displaying countries. This will be within four
floors within the main building, but its entrance will be at the World Plaza , boldly so as to be enticing.

COMPLIMENTARY SMALL RETAIL STORES

Retail stores and restaurants will occupy sections of the three lower stories of the World Trade Center
which will be opened up to take total advantage of the World Plaza's potential and promise. Musical
venues on the inside of the third floor of the WTC will look out on the outdoor stage built at the edge of
the WTC building overlooking the Spanish Plaza and the Mississippi River. These three floors will be
joined in a creative design using stairs and escalators and handicapped ramps, so that the overall effect
will be of a pleasant, family-oriented party going on all the time. Around every corner will be new
findings, and the lure of the Plaza will be great.

The new retail, small restaurants and three or four entertainment clubs (e.g., Danny O'Flaherty's Folk
World) will occupy the 100,000 + sq. ft. / 75,000 or so sq. ft. the building's three floors and the
additional outdoor areas between the present Spanish Plaza and Convention Center Boulevard and the
termination of Canal Street. The developer does not intend to have many, if any, national franchised
stores in this retail. Rather, this space - designed to lure and entertain tourists - will provide the "real"
New Orleans experience in its product and food offerings. LOCAL merchants will be here. For example,
the Cafe du Monde, originally in the French Quarter, now has nine locations. We will ask them to add a
tenth at the Spanish Plaza new retail park. This reinvigorated Spanish Plaza will become as well known
for its exciting cultural offerings as it once was for its hard-driving riverfront commerce.

Types of small shop retail would include both light dining and eclectic shops such as:

DINING: pretzels; ice cream, yogurt and gelato; cupcakes; coffee houses
(hopefully, another Cafe du Monde); candy shops; a raw bar; a rib house;
buffalo wings specialties

SHOPPING: unusual accessories; jewelry boutiques; photographic
remembrances of New Orleans and southern Louisiana; olive oil tasting

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shop; pet specialties; winery tastings; healthy wearing products; music
stores; hats; local Louisiana arts and crafts

The year-round property will offer open spaces, indoor and out, for public and private events. It will be
ideal for one-day to yearlong events, entertainment, exhibitions, high-profile product launches, festivals,
and as a setting for TV and film shoots. The World Plaza will look like New Orleans street scenes.

In the ever-changing, growing and improving New Orleans landscape, The World Trade Center and the
World Plaza will stand out as a national and community anchor providing entertainment, retail and
dining for the citizens of New Orleans and for visitors to alike. The World Trade Center and the World
Plaza will be home for up-and-coming presenters of music, dance, and theater.

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ARTISTS AND ENTERTAINERS

We envision an array of unusual ENTERTAINERS that the public will love because of their diversity and
unusualness. Artists and entertainers, all of whom will be required to get permits from the city as they
now do in other parts of the city, will perform in areas now comprising the Spanish Plaza. Perhaps they
can use part of the present planter boxes as 8 stages. Design teams will seek a way to use the giant
planter boxes as landscaped stages for performers. The Spanish Plaza will be decorated with
landscaping and garden coverings, not only bringing necessary shade to a large portion of the area, but
also providing wide walkways where artists can both display their talent and have a comfortable place to
spend their exhibiting days. We would ask the city to require that no other food sales or retail sales -
other than the restaurants presently there - would be allowed, so that sufficient room can be
maintained for enough artists and entertainers to attract enough visitors all the way to the river. And
also so that our investment in the part of the plaza that does not return a profit can be covered by the
part that does, and not be dissipated by others bringing retail to the Spanish Plaza at our doorstep, and
feeding off our investments without contributing to the costs we will be laying out for the public
attractions.

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The developer's plan is that ARTISTS, who are now so tightly squeezed in Jackson Square that they have
to fight for space, can expand to Spanish Plaza, on the public ground. The process for permits through
the city, as above, would be as it is now in Jackson Square, and would be limited to the same kind of
artists who have local art and only art they created. This is immensely popular among tourists and locals
alike, and its expansion is highly desirable. We propose that the artists be enabled to sell their products
on Spanish Plaza, but that the Plaza be improved with trellised flowers to provide shade and beauty,
with pathways wide enough to show artwork and to have people pass by easily. However, since Spanish
Plaza itself is not a part of this RFP, and because it is under the lease of Riverwalk, our involvement in
this is yet to be negotiated under the purview of the city.

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"Danny O'Flaherty's Folk World"

The sixteen years that O'Flaherty's Irish Channel Centre and Pub was open in the French Quarter were
filled with music, laughter, and wonderful memories, and is woven into the fabric of the city. Along
came Katrina and washed O'Flaherty's Irish Channel Centre and Pub away. Now Danny's is coming back
to New Orleans as: Danny O'Flaherty's Folk World. Internationally acclaimed singer, musician,
storyteller and bard, Danny O'Flaherty's infectious performances captivate audiences throughout the
world. Through his songs and ballads he brings Celtic heritage, traditions and folklore to life performing
in special concerts around the world as well as leading musical and cultural tours to Ireland. Danny was
featured in the book "Irish Face in America" and was voted one of the 2006 top 100 Irish Americans by
Irish American Magazine. Danny's success as an entertainer is driven by his dedication to preserving and
passing on his Celtic heritage. As the last of a generation reared in the isolation of a pure Gaelic culture,
Danny's youth recalled the simple traditions kept alive on the rugged and desolate islands. His first
language is Gaelic, and his first love - the ancient music played and sung around the peat fires in the
evenings. Whether singing the timeless songs of Galway fishermen or performing his own contemporary
ballads, this Connemara man keeps a unique heritage alive. Danny has traveled far from his boyhood
home in the farthest reach of the Irish west, to the steps of the United States Capitol where he
performed before a crowd of a half a million on Solidarity Day. There have been numerous other stops
along the way - each a momentous occasion: a tour of Israel culminating in a private command
performance with then President Herzog; a performance at the National Cathedral for Pope John Paul
ll's visit to the U.S.; featured performer for President Ronald Reagan's Inaugural Ball; the opening
concert for the Pan Celtic Festival in Ireland; an invitation only concert for alumnae of the University of
Notre Dame, and a headliner for the Tulsa Philharmonic and The National Theatre in Washington, D.C. -
just to list a few. A talented musician, Danny is equally adept with six and twelve string guitar, button
accordion, tin whistle, and harmonica. From songs of the sea and glen to aching calls for tolerance and
peace, Danny O'Flaherty's appeal is universal and timeless.

Danny and our development company intend to
inaugurate an annual New Orleans Folk Music
Festival, where the legends of folk music introduce
each year a new protege, passing the mantle to

new musicians, introducing younger generations to national/international folk music.

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Importance of Foot Traffic and the Streetcars

New Orleans is a walkers' paradise, with high "walker's score" of 93. Our site is at the center of it all.

It is also important to emphasize the great importance of the streetcars , and the wonderful fact that
lines converge at the World Trade Center. Getting around New Orleans by streetcar is a great way to see
the city. There are three different lines: St. Charles, Canal Street, and the Riverfront, each of which
originates downtown but takes passengers to different parts of the city. Streetcars in New Orleans offer
$1.25 and can be paid with exact change when you board. 1, 3, and 31-day unlimited ride Jazzy Passes
are also available for $3, $9 and $55 respectively. Passes can be purchased near our World Trade Center
site, at Convention Center Boulevard and Poydras Street. We will inquire whether it might be possible to
have another location to purchase passes right at the WTC Spanish Plaza retail complex.

The Canal Street Line is the most complex and leads to the most places. The Canal Street /Cemeteries
runs from the World Trade Center all the way up to City Park Avenue. The Canal Street / City
Park/Museum runs from the World Trade Center up Canal Street past Tulane University, then up to
Carrollton Avenue, where it turns right and goes to the great city park complex. It also runs past the
French Quarter riverfront. The Loyola-UPT also runs up Canal Street and along the French Quarter
riverfront, and, when it goes up Canal Street, it turns left at Loyola Avenue, passes only a long block
from the Superdome, on its way to the UPT streetcar bay.

The Riverfront Line runs from near Esplanade Avenue, past the French Quarter and Waldenberg Park,
all the way down to the Pontchartrain Expressway, with the World Trade Center near the middle of the
line.

The St. Charles Line can be picked up on Canal Street near Bourbon Street and runs along St. Charles
Avenue all the way to Jefferson Avenue.

All the lines (except the St. Charles line, which is accessed off one of the Canal Street lines) intersect at
the World Trade Center building. This is the hub of the streetcar lines. Tourists love the streetcar system,
which is nostalgic and unique among American cities. The fact that everything converges at the World
Trade Center means that this is the central fulcrum of tourism in New Orleans. It is only fitting that
this site should be put to its greatest and best use.

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Sample Elevation

This preliminary sketch by Perez gives an indication of thefestiveness and celebratory character of how
we want to tie Spanish Plaza to the World Plaza. Design is yet to be done, and this is just to present the
link between the World Trade Center site and the waterfront.

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Summary of Development Concept

On the following four pages are plats showing the boundaries of the RFP World Trade Center site and
the adjacent ferry terminal site, plus three floors of World Plaza usage - indoors and outdoors. These
are attached here for convenience. The RFP calls for them to be submitted at 1" = 50" scale. Those
required plats are enclosed in an attached envelope at 1" = 50' scale, affixed to the inside of the back
cover of this proposal.

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8. proposed maintenance program for all space and facilities to be accessible to the public

Without a doubt, all the elements of our proposal - the hotel, the residential, the offices, the Eyes on
the World tourism attraction, and the World Plaza - are top-tier luxury entities. All maintenance in and
around our development will be handled by a professional management staff, and/or by contracted
companies dedicated to landscape maintenance or building cleaning. All the elements of this
development will be meticulously maintained.

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Employment Projections

(Please note: Not all the numbers in all of the charts used in the financial and analytical calculations in
this proposal are interchangeable, because in each case different assumptions may be required or
different components make up the total from chart to chart.)

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The following charts on job generation are very conservative estimates:

Employment and Earnings Created During Construction

Category

Earnings

Jobs

Hard Construction Costs

$75,900,000

2,265

Architecture & Engineering

$8,810,000

216

Other Development Costs

$44,970,000

1,105

Total

$129,670,000

3,586

Category

Earnings

Jobs

Hotel (3 jobs x 550 rooms)

$44,400,000

1,565

Hotel Restaurant

$6,800,000

165

Hotel Bars

$4,500,000

94

Residential

$2,500,000

60

Parking

$1,000,000

60

World Plaza Retail

$2,500,000

458

Eyes On World Visitors

$4,500,000

65

Office leases

$3,300,000

32

Building Management

$2,100,000

46

Total

$71,700,000

3,632

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4. At Least Thirty-five Percent (35%) DBE Participation

Our local design firm, Perez, is a woman-owned company.

Disadvantaged Business Enterprises

There are qualified lists of Disadvantaged Business Enterprises accepted in the city, by city agencies (by
the airport, the Orleans Levee District, the Regional Transit Authority and the state Dept. of
Transportation and Development. We have all these lists, and will go first to them as we need firms to
contract with, and so that we might meet or exceed - on every level - the 35% DBE participations level.
A firm is certifiable under this program if it is at least 51% owned and controlled by individuals who are
socially and economically disadvantaged and where the firm is not dominant in its industry. There are
no presumptions of disadvantaged status for any racial, ethnic group or gender. From those three lists,
the types of Businesses which might be utilized for DBE businesses by the World Trade Center
businesses and the developer, and where there are certified companies include, but are not limited to:

1.

Concessions

22. Baked goods

2.

Architecture and Engineering

23. Trucking and commercial transportation

3.

Construction Contractors

24. Insurance management and agencies

4.

Limousine service

25. Steel fabrication for fence and guardrail

5.

Transportation planning

26. Oil and petroleum products

6.

Lawn maintenance

27. Industrial supplies

7.

Exterminating services

28. Temporary staffing

8.

Drug testing

29. Data processing and equipment

9.

Pressure washing and exterior

30. Commercial cleaning

maintenance

31. Environmental remediation

10.

Security and patrol services and

32. Accounting

surveillance

33. Employee background checks

11.

Messengers

34. Sign manufacturing

12.

Janitorial services

35. Public relations and marketing / check

13.

Parts and supplies

out: www.ABC-communications.net

14.

Facilities support

36. Computer systems

15.

Clothing stores for uniforms

37. Research services

16.

Food service contractors

38. Training

17.

Electrical contractors

39. Interior design

18.

Stationery and office supplies

40. Event planning

19.

Vending machines

41. Shuttle buses

20.

Painting

42. Catering

21.

Safety equipment

43. Legal

Moreover, most of the work in the development/construction phase will be handled by our General
Contractor, the McDonnel Group, which has a 100% record for always meeting the expectations of DBE
participation in all of their contracts with the city. On the following two pages are the O'Donnel Group
DBE guidelines, which will be followed by them in this case as well:

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MBE/WBE/DBE PROGRAM

The McDonnel Group has implemented the following policy and procedures. These procedures have
been established as a foundation upon which to continually build for the betterment of MBE/WBE/DBE
businesses and the construction industry in general.

The McDonnel Group acknowledges that this is an evolutionary process. With time, new practices will
be adopted, old practices renewed and a better understanding of the overall program attained. This
outline is considered to be a streamlined approach that yields itself to flexibility. It is The McDonnel
Group's hope and desire that, through this program, new relationships will be established.
Subcontractors who may not otherwise have the benefit of performing work on associated projects will
be given the opportunity to expand. During the course of this program, it is anticipated that small
businesses have the opportunity to expand and grow and become more proficient in every area of the
trade (i.e. accounting, trade skills, management, people skills, business savvy, etc.) For those who can
effectively perform their respective scope of work and render a quality product, it is hoped that long-
term relationships are developed.

Pre-Construction Services

The McDonnel Group recognizes that in order to affect the above goal, outreach and good faith efforts
are needed to initiate interest, identify recruitment sources and structuring procurement in such a way
to allow MBE/WBE/DBE contracting firms the opportunity for involvement. It is our intent to accomplish
this via the following methods: community outreach meetings, advertisements, notification to related
organizations, project scope forms, time lines and particulars sent to prospective MBE/WBE/DBE by
certified mail return receipt requested, follow up by telephone five days after mailing, pre-bid meetings
and structuring of bid packages to allow for breakdown of work and comparable scope between similar
trades, matching MBE/WBE/DBE's with prospective bidders on large packages where they may not be
competitive.

The McDonnel Group will begin by drawing on its existing database of MBE/WBE/DBE subcontractors
and suppliers. This database was built over our twelve years of seeking out and working with minority
and disadvantaged businesses.

The McDonnel Group will conduct additional outreach through advertisements to trade organizations,
special interests group publications and large distribution publications. The McDonnel Group hopes to
make the contracting opportunities widely recognizable. It is The McDonnel Group's intent to structure
verbiage of this advertisement in such a way to show forth sincerity and responsibility. Subcontractors
who respond to said advertisements would be maintained in a database for future contact when their
appropriate scope of work is bid.

In addition to advertisements, it is The McDonnel Group's intent to notify various organizations whose
purpose is to assist special interest groups targeted for the construction industry. Letters requesting
initial interest and member listing will be forwarded to these organizations. Organizations wishing to
participate in said project will have their members listed in the contact list for bid solicitation.
Furthermore, The McDonnel Group will inform special interest organizations of contracting
opportunities by speaking when invited to the organization's meeting.

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During the lecture, scopes of work targeted to special interest groups with approximate dollar amounts
will be made known.

The McDonnel Group will forward construction drawings and documents to the organization to
accommodate bidding convenience.

When a particular scope of work is published for bid solicitation, The McDonnel Group will further
accommodate interested bidders via pre-bid meetings. Pre-bid meetings will be conducted if one or all
following conditions are met:

• The McDonnel Group deems it to be in
the best interest of the subcontractors

• Subcontractor(s)request a meeting

• Complexity of scope of work requires ample clarification

During the meeting, bidders will be given a bid package that clearly defines a scope of work and a
method of submitting proposals, availability and access to construction documents.

Bid packages will be structured in a format which is simplified and conducive to identifying scope
between various subcontractors. In an attempt to accommodate MBE/WBE/DBE participation, bid
bonds will not be requested unless deemed necessary by The McDonnel Group. A bid bond will be
requested only when said scope of work meets one or all of the following characteristics: scope is highly
technical, work is critical to the project schedule, scope of work is compromised of a high dollar value, or
if required by Owner. Once bids are received, it is The McDonnel Group's intent to ensure that all
subcontractors bid on comparable scopes of work.

In order to accommodate the aforementioned, it is necessary to define specific scopes of work. For
instance, does a drywall contractor pick-up installation of fire caulking, taping, and finishing? A great
deal of effort will be expended in analyzing the various proposals for uniformity. If requested by a
number of subcontractors or deemed by The McDonnel Group to be a benefit to the project, various
scopes of work may be broken down and awarded to two or more subcontractors to accommodate a
specific scope of work.

This will be beneficial to both the various subcontractors and The McDonnel Group to limit high dollar
exposures where it is not the norm for different subcontractors, limit schedule risk when various
subcontractors may not have the crew size to adequately staff the project, and limit liability to the
Owner, The McDonnel Group, and the subcontractor. It is The McDonnel Group's intent through the
above efforts to identify the lowest bidders who are both qualified and have been responsive during the
bidding procedure. Once these firms have been identified, steps toward contract award and
negotiations will be initiated.

Contract Award

During the award of subcontract agreements, a number of steps will be taken to ensure that the
subcontractors have adequately prepared themselves and understand the work which is to be
performed, the time it is to be performed within, and the policies and procedures which are to be
followed as deemed necessary via the Owner's contract and The McDonnel Group's corporate policy.
The lowest, most qualified subcontractor will be notified and requested to meet with the Project

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Manager to discuss particulars associated with the respective scope of work. Unless deemed necessary
by The McDonnel Group and/or required by the Owner, bonding will not typically be required. Bonding
will be required when one are all of the following pertains to a subcontractors' scope of work:

• High dollar amount

• Highly specialized scope of work

• Unusually long fabrication periods

• Work which necessitates very large crew sizes

Once a contract has been awarded, subcontractors will immediately be notified of project coordination
meetings and copied on all correspondences that pertain to their portion of work.

In order to assist MBE/WBE/DBE subcontractors who may not have adequate resources to fulfill their
portion of work, The McDonnel Group offers cash flow assistance. Cash flow assistance can be any one
or combination of the following:

• The McDonnel Group will allow the subcontractors to assign their subcontract agreements to
financial institutions to accommodate lending requirements which affect cash flow distribution

• The McDonnel Group will also offer subcontractors assistance in accounting by monthly
payroll draws, joint check arrangements to vendors, etc.

Once a subcontract has been executed on behalf of both The McDonnel Group and subcontractor, The
McDonnel Group further strives to accommodate MBE/WBE/DBE subcontractors through the
construction process.

Safety Standards

The McDonnel Group will strive to create an environment that is conducive to equality among all
subcontractors and employees regardless of age, religion, race, or gender. The McDonnel Group further
expects subcontractors to participate in such a work environment and requires an acknowledgment of
the same through The McDonnel Group's Equal Opportunity Policy.

During the construction process, The McDonnel Group will strive to meet the employment goals by
following up with initial contacts whether initiated by The McDonnel Group or on behalf of the
applicant, by requesting lists of minority participants through the local unions and trade organizations
and disseminating lists to respective subcontractors. The McDonnel Group will strive to refer minority,
woman and disadvantaged businesses to the proper union halls, trade organizations, and subcontractors
when The McDonnel Group cannot properly accommodate them.

The McDonnel Group will require all subcontractors to be bound by the same terms and conditions as
set forth in the MBE/WBE/DBE subcontracting and hiring plan. Furthermore, all subcontractors are
encouraged to comply with the spirit of "Open Access" through all the same phases of their contracting
and employment opportunities. Subcontractors will be required to forward a written plan on how they
are to obtain and/or strive to meet the goals as set forth in the Subcontracting Plan.

During the construction process, The McDonnel Group will accommodate MBE/WBE/DBE
subcontractors via bimonthly labor draws, joint check to major material and/or equipment suppliers,
guaranteeing payment when requested by material and/or equipment suppliers, and by providing

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accounting assistance.

An inclusive MBE/WBE/DBE program is not only critical for this project, but for every project The
McDonnel Group builds. Our proactive efforts match our own commitment and we continually strive for
improvement.

The developer is well aware of the desire to fill positions and openings for both personnel and
companies under contract for temporary or permanent work at the World Trade Center project from
Orleans Parish. We are in complete agreement that local business participation is of paramount
importance, and we will use every means to secure personnel and companies to work on this project
from Orleans Paris and the city of New Orleans. We have a list of companies, both DBE and local to the
parish and city, which we will contact as soon as we know we are the contract holder and have a grip on
the scope of work to be done by that industry or capability.

By the very nature of the construction and permanent jobs that will be needed at the re-developed
World Trade Center building, primarily local people will fill them. Most positions will obviously be on
site, and that means that they will be filled by people who live nearby - in New Orleans city and in
Orleans Parish.

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Qualifications and Performance
History of the Respondent

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James H. Burch is experienced in developments of this size, and James H. Burch LLC was specifically established for
this New Orleans development. Each of his former projects have had their own named companies. Jim's forte is to
create the ultimate, economically-feasible, shining-star of a major development. His vision has given remarkable,
lucrative, far-sighted and iconic developments. He started small, then graduated to larger projects, including:

1. National Harbor. This 240 acre Washington, DC development with 1 Vi miles of 1-95 Beltway frontage and 1 %
miles of Potomac River Frontage took 4 and a half years to get county unanimous zoning approval (all previous
zonings in the prior 30 years had failed), access to waterfront through federal property that gave the density needed
(lobbying to successfully pass a bill through Congress, passing the federal land to the local county park authority,
where a reciprocal agreement was already in place for local use of the park and direct access to the waterfront land,
allowing higher density), and direct access to the site from the intersection of two interstate highways (1-295 and I-
95), overturning an earlier written refusal by the state to allow interstate highway access. When it was done,
National Harbor was approved an on its way to a billion dollar project, which he sold. It is now a $4 billion project
(see photo below).

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2 Riviera. 2,400 acres on the Potomac River with two miles of river frontage 20 minutes south of the Beltway. Jim
Burch assembled the 12 parcels and put together the team that planned this one-of-a-kind project. He sold it for
$20 million to one of the largest land developers in the country. Taking a year in thoughtful planning, this
development included such creative elements as: 1) 50% open space, utilizing good land, to attract forest-dwelling
birds and animals, have open space near every component use, and establish a sense of nature-at-hand
right plan throughout; 2) a people moving transit system connecting the density concentrations and planned in
conjunction with them; 3) a creative use of low land (not ecologically sensitive) be become a dredged marina and
central focal point for the development, and a landing for hovercraft for commuters to downtown Washington, DC;
4) the creation of a destination retail, in order to pump in tax dollars to the county in advance of residential
development bringing tax drain public expenditures such as schools; and 5) creative architecture and design,
making this planned development the best seen yet to date.

3. Planned a 1,000 acre resort development for King Hassan II of Morocco, 1988. This involved the design and
approval process for 3,000 residential units, 7 major hotels, marina, 2 golf courses, casino, gardens and myriad
amenities. Most of the consultants for the project were European. This was the largest resort development of its
kind in Morocco at that time.

4. Planned and designed the development of the Island of Kerkenna, Tunisia, 1990. This island, the size of
Bermuda, lies 5 miles off the eastern shore of Tunisia, near its second largest city, Sfax. For the government of
Tunisia, Jim designed first the master plan for not only the whole island, but also the surrounding waters, setting
aside areas for fishing, recreation and commercial cruise ships. Then the island itself was scaled to restrict the
historical areas (where inhabitants lived as they did in the Ninth Century) strictly to locals, surrounding farming areas
restricted to their current uses, and resort pods set around the water's edge of the island, connected by people
movers, waterway canals. Cars were tightly restricted, and moped use encouraged. The Government took this
project, enacting the design elements, and opening the development up to outsiders according to the plan.

(Currently, Jim Burch has been the principal bishop of The Catholic Dioceses of One Spirit
(www.OneSpiritCatholic.org) since March 2002; the diocese is an ecumenical Christian association, more like the
early centuries of Christianity than the last several centuries, and based on the underlying substantive
understanding that God loves everybody equally and unequivocally, and that the presence of Divinity within
everything and everyone is the essence of the Christian message. Jim currently spends most of his time as a
motivational speaker on spirituality, typically addressing more than 30,000 people each year. He has been an
ordained Catholic priest since 1996, having previously trained for nine years in a Roman Catholic seminary. The
diocese is currently comprised of approximately sixty plus progressive priests - women and men, married and single,
heterosexual and homosexual - with more constantly in the pipeline, who work toward new means of spirituality for
the 80% of the population no longer sustained by traditional church activities. He is deeply involved in multi-
denominational, multi-religious activities, and stays quite active in political issues on Capitol Hill.)

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QUOTES ABOUT JIM BURCH IN THE BUSINESS WORLD

Dossier magazine wrote: "Burch ... combines enthusiasm and self-confidence in what appears to be a combustible
mix."

The Washington Post wrote: "Where all others had failed, Burch succeeded last week in wining zoning needed for a
major waterfront development on the Potomac River ... a key ingredient in Burch's success was the man himself,
who sensed the psychic need in Prince George's for recognition and exploited it aggressively, working his way into
the county's social and political circles."

In a later article, The Washington Post wrote: "For years entrepreneurs had eyed the verdant Potomac River bank
just south of the Woodrow Wilson Bridge as ripe for development. But proposal after proposal fell victim to a small
band of citizen activists determined to maintain their rustic semi-rural environment ... But last week James H. Burch
... succeeded where others had failed ..."

Dr. Cynthia Wedel, the first woman President of the National Council of Churches, wrote: "I have been enormously
impressed with your understanding of community problems and of the changing world in which we are living."

When King Hassan II of Morocco asked the American Ambassador to Morocco Tom Nassif what Jim Burch was like,
Ambassador Nassif immediately answered, "Jim Burch is the kind of person who built America."

Dossier magazine wrote: "[PortAmerica/National Harbor] brought vindication for his utter belief in his own vision
and made his reputation in the Washington real estate community. He had sunk all of his and a lot of his partners'
money into the project - a million dollars in all - and he kept it alive for four and a half years by sheer force of will

In an article entitled "The Deal of a Lifetime," Dossier wrote: "Burch ... is engaging, eager to please, and so energetic
that people his own age call him 'that young man.' Although he combines enthusiasm and self-confidence in what
appears to be a combustible mix, nothing in his resume would have predicted the kind of vision and obsessive
persistence that builds empires."

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In charge of office supervision

Formerly in the Washington D.C. Metro Area. Commercial Real Estate project management, primary for Cafritz
Development and for Fairview Park. Mr. Arey 's degree is from the University of Maryland.

Steven Peer

In charge of field supervision

Formerly in the Washington, D.C. Metro Area. Commercial Real Estate project management, primarily for
Cafritz Development and the Gerald Hines Interests. Mr. Peer's degree is from the University of Virgin ia,
Darden Graduate School of Business Administration.

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Arey - Peer Partners offers clients a complete range of services

Arey-Peer Partners bring a proven track record of superior quality development throughout the metropolitan region.
The principals of the company have been involved in the development of some of the region's most prominent
office buildings along with notable mixed-use and residential properties totaling several million square feet. They
draw on past experiences to create a diversity of uses in unique new development projects. They create value for
our clients and the communities in which they work through the development of sophisticated projects, which have
a dynamic, positive relationship to their local neighborhoods, hallmark quality, and key custom features aimed at
meeting every need of our customers. List of services and representative projects follow:

• Owner's Representation

• Project Management

• Architectural / Engineering Coordination

• Construction Management

• Development Management

• Feasibility Studies

• Change Order Management

• Pre-Development Due Diligence

• Permit Coordination

• Value Engineering

• Business and Economic Incentives

• Capital and Financial Solutions

• Renewable Energy Design

• LEED Certification and/or Energy Star

• Asset Management (for FF&E)

• Security, Signage, and A/V Coordination

• Proactive Risk and Cost Mitigation

• Management of Project Invoicing/ Cash Flow

• Schedule Preparation

• "Look Ahead" Management

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3120 Fairview Park Drive - Northrop Grumman-
Develop, finance, and construct for Fairview
Property Investments - 2008 NAIOP award
winner. Suburban Office - 180,000sf- project
size: $53 million. James G. Davis Construction +
Noritake Associates.

2900 Fairview Park Drive - Develop, finance,
and construct - HITT's corporate
headquarters, 169,000 sf. Negotiated Joint
Venture between HITT and Fairview Property
Investments - project size: $46 million. HITT
+ Noritake.

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2941 Fairview Park Drive-General Dynamics
Headquarters- Manage construction of
General Dynamic's world headquarters
tenant space, 170,000 sf- project size: $27
million. Rand +Lehman-Smith.

1775 Eye Street - $30 million renovation of 180,000 sf DC office building. ULLICO financed $26.5 million
construction loan. After HAZMAT remediation, property upgraded through gut renovation from Class C to
Class A equivalent and sold to Pension Fund. Work included re-design of facade, elevators, and lobbies.

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77 K Street-Property acquisition and land-carry lease ofl950's building to District of Columbia. Managed
property and extended lease with DC Bureau of Traffic Adjudication. Directed design, marketing and pre-
leasing of new 335,000 sf office building. Negotiated purchase of TDR's, secured building permit and
general contract and sold site for $29 million to joint venture of Brookfield and ING. Davis Carter Scott.

Ravinia

Atlanta, GA

Gerald D. Hines Interests
1982 to 1987

1 ,600,000 sf Four-Building Office Complex
500 Room Hyatt Regency Hotel

Served as Project Manager for this mixed-use suburban high-rise office and hotel project. Involvement started with
the acquisition of an un-entitled 40-arcefarm located in the NEC of 1-285 and Ashford Dunwoody Road. Was active
in the entitlement process, architect selection (Kevin Roche), master site planning, and design of the first seventeen-
story 400,000 sf off ice building. Negotiated financing documents with Algemene Bank of the Netherlands. Started
construction spec, executed 300,000 sf lease with Northern Telecom to occupy at issuance ofC/O, leased balance of
space to 100% occupancy. Awarded bonus equal to two times annual salary for bringing project in on-time and 10%
under budget. In addition, negotiated with Nick Pritzker for the sale to thePritzker family of : a site for a500-room
Hyatt Regency (one of only eleven family owned hotels at the time).

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191 Peachtree

Atlanta, GA

Gerald D. Hines Interests
1986 to 1987

1 ,200,000 sf Office BuildinFor this 50-story office building located on Peachtree in the CBD, served as the Project
Manager through the early stages of the development. Participated in documentation of joint venture with Tom
Cousins who controlled the land assembly, negotiated financing documents with PGGM, was involved in architect
design competition through selection of Philip Johnson and in lead tenant lease negotiation with King & Spaulding.

1201 New York Avenue

Washington, DC

The Kaempfer Company

1987 to 1988

325,000 sf Office Building

Served as Vice President/Project Manager and partner in this 325,000 sf office building located in the East End of
Washington's CBD. Responsibility started at topping-out of construction. Executed lead tenant lease with the Hotel
and Motel Association and several additional tenant leases. Negotiated with equity partner (Clark Construction) to
expand budget to reflect realities of market and started land assembly and design for expansion project known as
1225 New York Avenue.

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Washington Harbour

Washington, DC

Cafritz Interests
1988 to 1990
510,000 sf Office/Retail

Senior Vice President/Project Manager and partner in this waterfront development in the Georgetown area of
Washington. Was involved in the purchase of the property from the senior lender after foreclosure from the original
developer. Construction was 95% complete at the time of acquisition. Negotiated joint venture financing
agreement with Long Term Credit Bank of Japan (LTCB) requiring no sponsor equity. Resolved numerous pre-existing
lawsuits, hired construction manger and directed construction completion. Hired property manager and directed
property management and accounting. Engaged third party leasing team and directed leasing effort. Completed
construction and achieved over 90% occupancy. Negotiated sale of Cafritz partnership interests for $5 million to
LTCB in 1991.

Security West

Baltimore, MD

Cafritz Interests
1988 to Present
850,000 sf GSA Office Building

As President and Project Manager negotiated leases with GSA for the entire building in 1993 and 2003. After the
lease execution in 1993 negotiated and closed a $56 million public debtfinancing which repaid all previous owner
equity and designed, contracted for and directed a $28 million renovation of the entire building working around
4, 000 Social Security Administration employees. After negotiating and executing anew lease in 2003, secured a $98
million public debtfinancing with a $10 million residual value insurance policy and completed a $4 million
renovation of public spaces. In 2009 negotiated, designed and directed a $14 million renovation of all tenant
finishes in the building paid for by GSA. Responsible for HAZMAT management and abatement in the building and on
site.

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1990 to 1992
140,000 sf Office

Negotiated lead tenant lease with American Colleges of Obstetricians and Gynecologists (ACOG). Directed leasing and
negotiated leases for spec space and garage. Negotiated lender workout agreement releasing personal guaranties.
Sold asset to ACOG in 1992.

1660 L Street

Washington, DC

From acquisition of this late 1960's occupied asset, managed leasing, property management and public space
renovations. Directed sale effort and negotiate and closed sale to Korean International Trade Association. Asset
purchased in 1995 for $17 million and sold in 2005 for $52 million.

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Palmer Club

Sarasota, FL

Cafritz Interests LLC
2001 to 2007
86-Unit Assisted Living

Identified off-market asset in 2001 held by national assisted living operator teetering with Chapter 11. Purchased asset vacant
for $2.4 million and renovated facility. Directed leasing and management. Achieved 100% occupancy and sold asset to local
operator for $6.5 million in 2007.

Thunderhead

Steamboat Springs, CO

Cafritz Interests LLC
2006 to Present
900,000 sf Resort Condominium

Negotiated with JV controlled by Freeport-MacMoRan and Starwood to purchase eight acres at the base of this one million
skier visit mountain. Secured debt and equity for $60 million purchase. Engaged local developer to manage on-site efforts,
directed design and entitlements resulting in increased density from two and three story .5 FAR to nine-story 2.0 FAR.
Executed LOIfor Ritz-Carlton branded whole- ownership condominiums. Demolished existing buildings. As development
market collapsed negotiated five-year profit sharing participation in exchange for release of all decision making authority and
transfer of ownership interests.

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Lead Design Architect

The following 17 pages are the qualifications of Wimberly Allison Tong & Goo (WATG), whom the developer
believes is the best design company for resorts, hotels and mixed-us attractions in the world. They have designed
approximately 40% of the world's top resorts and hotels, including - among MANY others - those on the next
pages.

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experience

WA

WATG Wimberly

renovate
refurbish

rejuvenate
reposition

Upgrading your hotel - whether it's to create a fresh
look, improve efficiencies, or totally reinvent your
property - goes a long way toward protecting your
assets as well as your reputation. With clear objectives
and an experienced team, your renovated property can
achieve or exceed your ROI goals

relax

Contact WATG to help you renovate and rejuvenate
your property. Now is the time

Service Lines

WAT G

Strategic Consulting

WATG offers strategic consulting expertise
■n response to clients' requests for assistance
throughout the development cycle. Our
hospitality advisors can help you:
» Determine the best use of your site

■ Assess your project's feasibility

• Coordinate the efforts of your consultants

■ Achieve a level of green/sustainable design
& obtain third-party certification

• Solicit proposals and negotiate contracts
with operators

■ Analyse opportunities for renovation 5
repositioning

Master Planning

Having designed more hospitality projects
than any other firm in the world, our strong
track record developed over six decades
shows successful completion of mixed-use
planning projects that are aesthetically pleasing,
environmentally responsible, financially
successful and operationally efficient

A Strong Trock Record

• Knowledge of international expectations
and Standards. Having worked in over 160
countries, we offer a broad perspective of
what is involved In creating a viable master
plan.

■ Collaborative approach to planning and
design. As a firm, we work collaboratively
involving clients, operators, consultants,
government officials and other interested
parties to ensure that suggestions and ideas
are incorporated at the very earliest stage.

• Proven lead consultant abilities. We

are frequently asked to provide the overall
management and coordination of all the
consultants and their efforts throughout the
master planning process.

• Dual expertise working in tandem for rapid
advancement. We are designers and
hospitality consultants as well as planners —
this dual expertise is beneficial if there is a
substantial amount of work to be completed
in a relatively short time frame.

WATG planners look at market analyses,
valuation findings, and land use comparisons to
assess issues of viability and compatibility. Urban
planning and resort planning services include:

• Site assessment

• Site selection

- Highest and best use analysis

■ Master planning

• Site design

• Architectural concept design planning

Architecture

At WATG, we measure success the way our clients
do-speed to market, price and pace of sales, revenue
per square foot profitability, return on investment,
net present value. An insider's understanding of sales
success is requisite to design success

WATG projects secure not only design awards but
also bottom-line results Our specialised experience
in these areas is a priceless addition to any project:

* Project management

* Conceptual design

■ Architectural design

* Production of technical drawings

- Coordination of prime consultants

Interior Design

Over the years WATG has evolved to meet the
changing needs of its valued clients. To complement
its traditional strengths in architecture, planning
and consulting, WATG offers interior design
services, in order to deliver to clients an integrated
"one-stop- shop" experience with a single point
of accountability. The result is a well-coordinated
project development process and a seamlessly
executed product. Our interiors script opportunities
for people to find rejuvenation, recreation,
romance, excitement, and escape

WATG's interior design services deliver to clients
an integrated experience with a single point of
accountability and a specialization m hospitality
projects, interior design services include:

■ Facilities programming & space planning

■ Budgeting and value engineering

* Interior architecture

■ Interior design documentation

* Specifications

* Furniture, finishes, fixtures selection (FF&E)

* Procurement management

* Installation

Landscape Design

WATG offers a full range of landscape architecture,
design and consulting services, including:

* Project feasibility assessment

* Environmental feasibility analysis

* Hard and soft landscape design

* Outdoor artwork selection

* Construction documentation

■ On-site reviews and contract administration

Mailer Planning

Architecture

Interior Design

N«w Lenturv Nirtrjbo Hof?l. Ningbj, China

Landscape Dastofl

bttanu Nacn Abu wiahi, uaf

Masquerade at Harrahs New Orleans

New Orleans, Louisiana, USA

WATG Wimberly

INTERIOR*/

Harrah's Entertainment, Inc.

13,000 square feet

2, 40 Q-squa re-foot ultra lounge,
42-foot tall high-tech video tower
32-foot rce bar; live shows and music;
Table games and slots; night Sky-
themed ceiling mural

services provided
Architectural design
Interior design

associate architect
Montgomery Roth

challenge

The design challenge was to create a one-of-a-kind, hip and ultra-modern casino entertainment venue
to become the focal point of the existing casino,

solution

The design team created a "Masquerade" therned entertainment piece at the center of the casino rn the
former passive Jazz Court area. The space was designed in a New Orleans baroque, contrasting wrth a
sleek and ultra modern video tower. The 42 -foot-tall tower serves as the centerpiece and merges art and
technology to create a sensory experience with audio, video and special effects including faux-fire and
intelligent lighting. A BB-foot ceiling displays a night sky therned mural and fiber optic galaxy to give the
space a dramatic outdoor feel. Completing the experience is an intimate private lounge, 32-foot ice bar,
dance floor, stage for live shows, table games and slots.

Masquerade at Harrah's New Orleans

New Orleans, Louisiana, USA

WATG Wimberlv

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Harrah's New Orleans

New Orleans, Louisiana, USA

WAT G

Harrah s New Orleans

New Orleans, Louisiana, USA

WATG

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The Ritz-Carlton, Guangzhou

Guangzhou, China

WAT G

R&P Properties Group

351 guestrooms

T20 serviced apartments

42 stones

amenities

Two restaurants (fine dming and
Chinese), spa; fitness center, indoor
pool; lobby lounge, two private
penthouses with private pools

services provided
Architectural design

challenge

The challenge was to design a five-star luxury hotel in an urban setting that would maximize its
prominent location.

solution

A forty-two story contemporary structure was designed to offer panoramic views of the Pearl River.
The layout of the hotel allows for effortless access to the nearby international convention and exhibition
center, the opera house and national museum,

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St. Regis Hotel & Residences Singapore

SiiUj.ipori

WAT G

City Project Management Ptd- Ltd

Si1e: 4 1 3 acre site (1 .67 hectares)
299-room luxury hotel (20 stories)
173 residences (apartments,
suites and penthouses in two
23-story towers}

Rernede Spa with sensorial lounge and
aquarium; sauna; fitness center; pool;
terns; jogging path, retail; dining;
Bentley Fleet transportation service

services provided
Architectural design

challenge

The design challenge was to create a dynamically sculptured, vibrant and inviting city-center mixed-
use complex for the heart of Singapore, and an emblem of Singapore's prominence as a 2 1 st-century
destination,

solution

Incorporating the crescent symbol of the nation's flag in the design, the architects visually linked the
three buildings on the urban site with crescent-shaped forms and profiles, dad in translucent gtess to
achieve a luminescent glow,

Trove! + Leisure Magazine, IT LIST - Top
30 new hotels m the world, Conde'
Nast Traveler, HOT LIST - Hottest
new hotels in the world; Conde' Na$t
Traveler, HOT LIST - Hottest new spas
m the world; Elite Traveler, Top 1 01
Hotel/Resort Suites of the Year; Robb
Report, Best of the Best - new hotels

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St. Regis Hotel & Residences Singapore

Singapore

WATG

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TJMC Four Seasons

Tianiin. China

WATC

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The Bentley Suite at the St. Regis New York

New York. New York. USA

Wimberly

INTERIORS/

client

Starwood Hotels & Resorts, Worldwide
in collaboration with Bentley Motors.

1700 square feet

Expansive dining and living rooms;
floor to ceilmg windows; Bentlev-
i-ns.pired accents throughout the
suite; views overlooking Fifth Avenue
and Central Part; St. Regis butler
service; in-suite champagne bar, and
complimentary access to the St. Regis
Bentley MuJsanne

services provided
Interior design

The challenge was to transform a suite at the 5t. Regis New York into ar> iconic one-of-a-kind luxury
suite that exemplifies the characteristics of both the Bentley Motors, and St. Regis brands

solution

The suite's design boasts a unique juxtaposition of elegance and contemporary -. :ra: reflects

the bespoke elements of both brands. The black leather tile floor pairs perfectly with a linen colored,
perforated diamond leather wall, stitched with one of the 42 custom Bentley leathers. A metallic silver
mirror, inspired by a carbon fiber wheel rim, sits above an accent table evocative of the dashboard
of a Bentley The suite combines the modern yet glamorous style of the brand with the timeless and
impeccable style of The St. Regis New York.

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Pan Pacific Singapore - Lobby

vi.!iii..j Square. Singapore

Wimberly

interiors/

chaltange client

Pan Pacific challenged WATG to redefine its dated, albeit highly profitable, Lobby Lounge located in a Pan Pacific Hotels

John Ponmari designed 35 storey Atrium, the tallest in Southeast Asia.

Using a rtiotif of tubular louvered screens, WATG divided the opulent space into more intimate sub-
areas. A high wall was erected as a backdrop in photo images of Singapore's national flower, the Miss
Vanda Joachim Orchard in aqua tiles, the largest mosaic mural of it's type in the world. A tapas-style.
Japanese sake bar and a wine cellar have been placed into the original Portman designed entry tunnels.

Capacity was doubled to a total of 250 seats while maintaining the intimate atmosphere local customers
had come to associate with the Lounge and bringing the decor into the 2 1 st Century

742 guestrooms; 38 suites
amenities

Business center; outdoor swimming
pool with underwater sound system;
tennis courts; Clark Hatch Life Spa &
Fitness Centre: conference facilities

services provided
Interior design

Pan Pacific Singapore - Ballroom

Marina Square. Singapore

Wimberly

interiors/

client

Pan Pacific Hotels

Ballroom - 8,662 square feet

amenities

The Pacific Ballroom accommodates
up to 680 diners or 800 reception
guests wrth special soundproof wall
panels; new state-of-the-art sound
system, audio-visual equipment; high-
tech electronic remote to control
house lights, slide projector, screen
and sound

services provided
Interior design

challenge

The design challenge was to create a distinctive environment and renovate the ballroom and public areas

to attract more customers.

The design team refurbished an under-performing portion of the hotel with a unique and refreshing
design approach, using state-of-the-art lighting and acoustics.

Revenues skyrocketed after the renovation - in six months since the project's completion, banquet sales
increased by 40%.

Fairmont Towers Heliopolis

WATG Wimberly

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The Ritz-Carlton, Panama

Panama City, Panama

Wimberly

INTEHiOHs/

client

CM+D International

222 guestrooms
26 suites
SO residences

amenities

Club lounge; lobby lounge; bar and
three-meal restaurant; pool bar +
grUI; spa + fitness center; owner's
lounge + boardroom; meeting
spaces, ballroom, + prefunction
areas, kids' dub

services provided
Interiors

challenge

The challenge was to design a
luxury hotel that reinforced a sense
of place with cultural details.

solution

Panama's Canal and Water Ways
influenced the design with a
crisp nautical palette of navy and
white accented with bright pops
of color. The interior architecture
utilizes, techniques and styles found
in luxury yachts. The design for
this property is distinctly far a
modern yacht that's docked in
Panama City and incorporates the
locale within the yacht's design.

Inspired by importation of specialty
goods and the growth of luxury
items imported into Panama, the
scheme also shares architectural
influences from high-end retail
boutiques, which connects the
hotel to the luxury retail center
within the development,

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Peter Capone, AIA

Peter Capone is perhaps the last living partner of Edward Durell Stone, the famous architect of the middle
Twentieth Century who was the architect of the subject World Trade Center building. He was vice president and
director of Edward Durell Stone & Associates, Architects, and is our advisor. He will assist us to keep the legacy of
the famous Edward Durell Stone and this building of his design.

Among this firm's many landmark buildings were not only the World Trade Center in New Orleans, but also
Beckman Auditorium at the California Institute of Technology, the Public Library of the City of Palo Alto, the
Museum of Modern Art in New York City, and the Center Library for International and Public Affairs in Los Angeles.

Founded in 1940, Perez has grown into a national company with international reach. They are a 100% Woman and
Minority owned, multidisciplinary firm providing a full range of in-house services including architecture, design-
build, construction, landscape architecture, planning, interior design, and real estate development. Their depth of
service offerings is complemented by eight national offices on the Gulf Coast, West Coast, East Coast, and Midwest,
and a diverse portfolio of experience, which spans nearly every building and project type imaginable. The following
several pages show some of Perez' work.

■

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Angela O'Byrne, FAIA, NCARB, LEED AP
President

Education- Tu ' ane u n ' vers 'ty^ Master of Architecture

Columbia University, Master of Real Estate Development

Under Angela O'Byrne's visionary leadership, Perez has grown into a national firm, with locations across the country
and projects around the globe. Angela joined Perez in 1998, and took over leadership of the company two years
later as the owners' hand-picked successor. During her time as President of Perez, APC, Angela has opened nine
new offices throughout the US, won federal contracts in Germany, Afghanistan, Iraq, and West Africa, and added
construction, procurement, and real estate development to the firm's service offerings. She has over 30 years of
experience in design and management of diverse project types including multi-unit housing, hospitality, recreation,
master planning, historic renovations, education, government buildings, LEED certified projects, military
construction, and more.

Born in Cali, Colombia, Angela came to the United States at the age of five when her father accepted a teaching and
research position at Tulane University School of Medicine in New Orleans. She is a licensed Architect in more than a
dozen states, a licensed General Contractor in Louisiana, and a LEED Accredited Professional in Building Design and
Construction (BD+C). Prior to taking over the leadership of Perez, Angela served as Operations Manager, Studio
Director, and Project Manager for three multi-national Architecture and Engineering firms in New York City. Earlier
in her career, Angela was the Director of Project Management for the New York City Housing Development
Corporation, the largest Housing Finance Agency (HFA) in the country.

Over the course of her career, Angela has received numerous honors and awards for her design work and her
service to the community. She was named one of the "40 under 40— the Power Generation" by New Orleans
CityBusiness in 1999, "40 under 40" by Gambit Magazine in 2000, Woman of the Year by New Orleans CityBusiness
in 2001, 2006 and 2009, and Architect of the Year by New Orleans Mayor Marc Morial in 2002. Angela was selected
for the New Orleans Regional Leadership Institute (NORLI) in 2000, and was inducted into the New Orleans
CityBusiness Hall of Fame in 2009. Angela served as President of the AIA New Orleans chapter and was responsible
for planning a Smart Growth Summit in May 2005, and hosting the Governor's Louisiana Recovery and Rebuilding
Conference in November 2005 (100 days after Hurricane Katrina.) Shortly thereafter, Angela co-founded the non-
profit, City-Works to advocate for better urban planning and design in the rebuilding of New Orleans.

Angela is currently on the Board of Directors of CREW Network, City-Works, Harmony Neighborhood Development
(non-profit real estate developer), Newcorp (non-profit Community Development Financial Institution), Tulane
University School of Architecture, New Orleans Business Alliance (NOAB) Business Development Leadership Council,
a charter school in New Orleans and three privately owned for-profit companies. In the past, she has served on the
Boards of AIA Louisiana, AIA New Orleans, New Orleans Regional Chamber of Commerce, and Women's
Professional Council. She is a member of the US Green Building Council (USGBC), Women Impacting Public Policy
(WIPP), the National Association of Housing & Redevelopment Officials (NAHRO), and Public Housing Authorities
Directors Association (PHADA).

Ms. O'Byrne has three grown children: Frederick, Alexandra, and Christina. She sang for years in church choirs, and
enjoys reading, movies, live theater and music events, travel throughout the world, golf, hiking, running, swimming,
and biking.

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Alfred "Pio" Lyons

Lead Local Architect at the Perez firm

Pio Lyons was a principal at the architectural firm of Lyons & Hudson. Formed in 1973, the company had
two major goals: design and technical expertise. Recently Lyons & Hudson was acquired by Perez.

The philosophy established in 1973 guided the firm to a position of strength with capability for execution of
large and various building types. Their experience included major hospital projects, laboratory research
facilities, diagnostic and evaluation facilities, student housing, office buildings, libraries, restaurant facilities,
hotels and schools. The principals of the firm have extensive experience in a wide variety of renovation and
restoration projects, including the Orpheum Theatre for the New Orleans Symphony and the Wildlife and
Fisheries Building for the higher courts of the State of Louisiana. Such renovation projects require extensive
knowledge of older building techniques, as well as knowledge of current technology and its applicability to
the preservation of such historic buildings.

With excellence in design as one of their major goals the firm received numerous local and national awards,
recognized not only by their peers through receipt of awards but by the community as well, through design
critics of newspapers, civic groups and individuals. They were honored for both new construction and
renovation of historic buildings. Mr. Lyons, particularly, brings that capability to his new position, and to his
work on the redevelopment of the historic World Trade Center building.

Additionally, maintaining a high standard of technical competency as their other major goal enabled the firm
to earn the respect of the construction industry due to the thoroughness of their construction documents
and due to their responsiveness during the actual construction of our projects. Years of experience,
extending from the early 1960s, in production, writing of specifications, and contract administration enabled
Lyons & Hudson to consistently produce well-designed projects on budget and on schedule, and to be a
valuable addition to Perez.

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One Canal Place

Year: 1979 / Canal Place Venture

Perez designed this 32- story 650,000 SF commercial office and retail facility in downtown New Orleans. The project
included accommodations for single office users and multi- floor tenants, 3- story shopping center, hotel, mail
services, parking garage, and passenger and service elevators.

1984 World's Fair, New Orleans

1964: Louisiana World Exposition, Inc.

The 1984 World's Fair transformed a decaying industrial area into a vibrant postmodern festival, spurring
redevelopment of the entire downtown and riverfront area of New Orleans. Perez served as the Master Planner
and Lead Design Team, and created one of the most notable aspects of the fair: the Mississippi Aerial River Transit
(or MART), an aerial gondola traversing the river from the CBD to Algiers

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Hotel Intercontinental New Orleans

1984: Intercontinental Hotels

Designed to accommodate increased tourism in advance of the 1984 World's Fair, this facility was the first US
Intercontinental hotel to be built from the ground up. At its opening, the luxury property contained 504 rooms, two
solarium dining spaces, a formal dining room, lobby bar, sculpture garden, and European- style courtyard. Many
years later, the client called upon Perez to provide design for renovations and upgrades to all rooms in the facility.
This project was completed in 2000.

Louis Armstrong New Orleans International Airport - Phase IV Terminal Renovations

2012: New Orleans Aviation Board (NOAB)

In 2011, the Perez team was awarded the largest phase of the ongoing Terminal Renovation project. The project
includes renovation and visual unification of the terminal interior, consolidation of the security checkpoint and
concessions area at the West Terminal, and relocation of the NOAB offices to Concourse A. Rather than drawing
from familiar imagery, the design team was inspired by the traditions, rituals, and natural beauty of New Orleans.
The idea of procession evident in parades, jazz funerals, and the movement of the Mississippi River, was a driving
concept for the design. Colors were chosen to suggest the warmth and liveliness of the city, in opposition to the
institutional color palette of the existing facility.

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Denver International Airport

Year: 1995

Services: Program Management & Schematic Design
Client: City and County of Denver Department of Aviation

Perez provided schematic design for airport concourses, and program management services for the $250 Million
Jeppesen Terminal Complex at Denver International Airport. At the time of construction, this airport was the
centerpiece for the country's expanded air transportation system, and one of three major "worldports."

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Harrah's Casino New Orleans

1999: JCC Holding Company

Awards: Casino Executive Magazine, Gold Medallion Award - New Construction for Land- Based Facility

Design for the Harrah's Casino reused space which originally housed the Rivergate Exhibition Center in downtown
New Orleans. At the time of construction, the resulting four- level facility was the world's largest land- based
casino, encompassing approximately 800,000 square feet of gaming, restaurants, ballrooms, and back- of- house
support. The exterior architectural style of the facility echoes the festive spirit of the New Orleans Community, and
complements the ambience of surrounding hotels, the Ernest N. Morial Convention Center, and the Riverwalk
Shopping Center.

Our General Contractor, the McDonnel Group, worked on Harrah's Casino with Perez.

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1231 Decatur Street Historic Renovation

2004: 505 Royal Street, LLC

Awards: Award of Merit in Historic Preservation, American Institute of Architects

Perez provided design services for renovation of a four- story home, first floor retail space, three- story slave
quarters, and courtyard into one retail condominium and five residential condominiums. Historic elements of the
French Quarter home, such as the classic winding wood three- story staircase, and wrought iron balcony
overlooking Decatur Street were preserved and restored to the greatest extent possible.

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S3

The McDonnel Group

3350 Ridgelake Drive Suite 170
Metairie, La 70002 or
P.O. Box 7392 Metairie, LA 70010
Phone: 504.219.0032

The McDonnel Group is a Louisiana based general contractor located in Metairie, LA. They provide comprehensive
services that go beyond the mere construction of new projects. The ability to understand not only the construction
process but also the overall design, development, and usability of each project distinguishes them from their
competitors. Their staff and ownership possess a unique combination of talents that are unparalleled.

The McDonnel Group's objective is to deliver to its clients the best job possible by utilizing innovative solutions that
provide optimum results. Whenever there is a more professional way to ensure value, The McDonnel Group can be
relied upon to propose such a course. From pre-construction services and project engineering to construction
management and field logistics, The McDonnel Group has the unique advantage of being able to manage each
project from inception to end. Technology coupled with extensive experience enhances The McDonnel Group's
ability to format information allowing the company to better communicate with its clients. The McDonnel Group's
specialties include interior and exterior renovations, remodeling, building additions, and ground up construction of
new buildings. They will tailor services to the client's individual needs which may include design support,
preliminary budgeting, resource and logistics planning, scope management, project scheduling, project
administration, and supervision.

The McDonnel Group is committed to building long term relationships with satisfied clients by providing reliable
service and innovative solutions, focusing on the details and expectations of their clients' construction needs.

Design-Build

By working with a selected architect from the design phase of a project to project completion, The McDonnel
Group assumes total responsibility for the design and construction of your project, giving our project a single
source of responsibility from start to finish.

112 | P a g e

• Obtain a firm price for a custom tailored program at a very early stage

• Develop space program independently or choose to include this function in the
design-build contract

• Receive expert assistance in determining space needs, budget, schedule,
materials, and project goals

Once space requirements have been developed, The McDonnel Group assemble a team of construction
professionals from each of the required design disciplines, drawing from their own in-house resources, as well as,
external sources. The team's combined expertise allows them to efficiently and effectively meet project design
and construction requirements, often within stringent budget and schedule parameters. Confidence in the design-
build process will grow as clients experience the benefits of having a single source of responsibility, working with a
fixed project price, and knowing exactly when the project will be ready for use.

Construction

The McDonnel Group brings the most talented, innovative, and professional group of subcontractors, consultants,
field supervisors, and project managers together in order to bring each propject to reality.

• Quality construction

• Strict cost and schedule control

• Professional work ethics

• Success in consistently meeting client's expectations

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St. Augustine High School Expansion and Renovations

LSU Health Sciences Center — Charity School of Nursing Dormitory

LSU School of Medicine Center For Advanced Practice

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Omni Crescent Hotel Restoration

Omni Royal Orleans Lobby and Rib Room Renovations

New Orleans Marriott Lobby and Ballroom Renovations

Ripley's Believe It Or Not Museum

Metairie Country Club Expansion and Renovations

Cafe Du Monde, Metairie, LA

Louis Armstrong New Orleans International Airport Concourse D Phase IV

Mary Bird Perkins Cancer Center at Terrebonne General Medical Center

Cabrini Luxury Apartments

Market Analysis

The initial hotel and hotel-related Market Analysis:
Gary Schnellbacher

Mr. Schnellbacher worked for PKF, the consulting and evaluation firm specializing in hotels and hospitality research,
in Houston until his recent retirement from that company. He intimately knows the New Orleans market. Gary
Schnellbacher has reviewed and touched up the preliminary RFP-based market analysis for the all the components
of this development submitted herewith. This is not an "ultimate" final market analysis, because it is impossible to
get a full market analysis done under the present limitations imposed in the RFP process. Moreover and most
importantly, by the very nature of future negotiations required to be done with the city, changes may occur which
would make a full-fledged market analysis at this timeframe completely off target. This initial market analysis is
acknowledged as an in-house study, yet done by professionals, reviewed by Mr. Schnellbacher for correctness, and
not a final version.

The final FEASIBILITY STUDY:

The final FEASIBILITY STUDY will be conducted after we win the negotiated contract, and it will be done by Mr.
Schnellbacher's company, Schnellbacher Development Services.

Mr. Schnellbacher was formerly Associate at PKF Consulting, Inc. in Houston, TX, and Commercial Staff Appraiser for
O'Connor & Associates, Houston, TX. He was Commercial Review Appraiser for Conley, Knight & Boswell,
Manhattan, Kansas; was Director of Property Taxation for Brock Hotel Corporation in Irving, TX; and Was Chief
Appraiser, Head of Real Estate for Shawnee County, Topeka, Kansas. His special competence is market supply and
demand analysis, financial feasibility and appraisals for hotels, resorts, mixed-use developments, and
hotel-related-condominiums; survey design and methodology; financial and economic impact analysis.
He has over 25 years of hospitality and real estate industry consulting experience. He has conducted
numerous market supply and demand analysis, and appraisal analysis studies for existing and
proposed hotels, mixed-use developments and hotel-related condominium projects and their related
amenities. Scope of these engagements included site analysis; area review (including economic and
demographic research); market demand and supply analysis; facility recommendations and projected
performance; analysis of financial feasibility and valuation.

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Residential Rental Realtor

^ Dorian i Sotheby's

■I Bennett INTERNATIONAL MALTY

Memories, relationships, treasured possessions - homes are repositories of the things that matter most. To
market a distinctive home requires uncommon knowledge and resources. At Dorian Bennett Sotheby's
International Realty offices, potential residents of our luxury apartments will find representatives experienced in
offering exceptional living spaces. Their agents understand that a home - owned or leased, apartment or
plantation - reflects the incalculable value of the life within.

As in art, antiques, wine and collectibles, the common denominator of homes represented by Dorian Bennett
Sotheby's International Realty is the distinctive character of the property. Dorian Bennett Sotheby's International
Realty represents properties of significant interest, which the residences at this location certainly will have. They
also bring to every relationship an emphasis on exceptional service and a practiced eye for recognizing the unique
value of a property.

Dorian Bennett Sotheby's International Realty is known for investments in historic New Orleans. Dorian Bennett
Sotheby's International Realty continually lists properties ranging from grand mansions and Victorian gingerbread
homes to sleek modern penthouses and properties ideal for renovation and redevelopment.

Dorian Bennett has long been a patron and supporter of the arts. Dorian also serves
as New Orleans "Real Estate Agent to the Stars!" Dorian has sold local real estate to
such notables as Nicholas Cage, Lenny Kravitz, Taylor Hackford, Jimmy Buffett and
Zachary Richard. He even sold House of Blues its Decatur Street property. Through
his work with the New Orleans Film Commission and by word-of-mouth, his name
has been spread around the Hollywood community. As a result, when stars come to
town they most often call Dorian. Dorian's appreciation of architecture and
preservation is not limited to his professional career. He received a restoration award
for the renovation of his office at 2340 Dauphine Street. His residence in the "Bend of
Bourbon Street" also has a lot of history behind it. Built in 1825, it has been home to
the son of Louisiana's first Governor - Claiborne, and more recently, Clay Shaw of JFK
conspiracy theory fame. It was also featured in the book House in the Bend of
Bourbon, by Terry Fletrich. Civic activities play a prominent role in Dorian's life.
Dorian is currently serving on the boards of the New Orleans Jazz and heritage
Foundation, French Market Corporation, the Historic District Landmarks commission,
and Family Service of Greater New Orleans. Previously, Dorian was on the Board of
the Contemporary Arts Center, president of the Friends of Contemporary Art of the
New Orleans Museum of Art, on the board of the New Orleans Opera, and the board
of trustees on the New Orleans Museum of Art.

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3. Prior Projects of the Main Development Entities,

in Which There was Extensive Experience with Governmental Entities

Listed below are governments with which our principal firms have dealt with in extensive collaboration on major
projects. It should be noted that each firm's principals and staffs have had other extensive workings with
governments before they joined their respective firms noted below.

James H. Burch LLC

Fairfax County, VA
The City of Alexandria, VA
Loudoun County, VA
King George County, VA
Prince George's County, MD
- Charles County, MD

The Government of the District of Columbia
The Federal City Council, Washington, DC
The U.S. Department of Transportation
The Maryland State Government
The Virginia State Government
The United States Senate
The Kingdom of Morocco
The Government of Tunisia

Floyd Wilson, former Chairman of the Prince George's County Council (MD) wrote: "If a
[task] is guided by the efforts of Jim Burch, it is absolutely going to be done right, with an
unparalleled creativity and marketability. Jim Burch never lets up; he never says die; he is a
bulldog on accomplishing monumental tasks, but pleasantly. Even more important, he is a
man of honesty, truthfulness and integrity ..."

Clive DuVal, former State Senator and Chair of the Northern Virginia delegation, wrote: "In
my judgment, you have great ability, plus a broad understanding of the many issues that
are important ... You have developed real expertise in the political processes and the
workings of government."

Henry Howell, former Virginia Lieutenant Governor, wrote: "[you are] an outstanding
individual with remarkable administrative abilities and insights. [You are] someone ready to
work hard and who has integrity and sensitivity."

120 | P a g e

Wimberly Allison Tong & Goo Architects

Hainan, China

Springfield, Oregon

Republic of Dagestan,

Rovinj, Croatia -

Russia

Chaing Rai, Thailand -

Haitang, China

Limassol, Cyprus

Bali, Indonesia

Cairo, Egypt

Ningbo, China

Crete, Greece

Guangdong, ChinaKuala

Playa Pelicano, Costa Rica

Lumpur, Malaysia

North Coast, Egypt

Antalya, Turkey

Palm Desert, California

Bodrum, Turkey

Tokyo, Japan

Qingyuan, China

Bangalore, India

Sanya, China

Goa, India

Qingshui Bay, China

Honolulu, Hawaii

Zhejiang Province, China

Sanya, China

Rio de Janeiro, Brazil -

Dubai, United Arab

Sentosa, Singapore

Emirates

Sochi, Russia

Kuala, Terengganu,

Boracay Island,

Malaysia

Philippines

Anguilla, British West

Anahita, Mauritius

Indies -

Ho Chi Minh City,

Anaheim, California

Vietnam

Wolmar, Mauritius

Penang, Malaysia

Muscat, Oman

Rabat, Morocco

Qadimah, Saudi Arabia

Devon, United Kingdom

La Jolla, California

Cairo, Egypt

Hangzhou, China

Port Gocek, Turkey

Honolulu, Hawaii, USA

Muscat, Oman

Attica, Greece

Tamuda Bay, Morocco

Aphrodite Hills, Cyprus

Kuala Lumpur, Malaysia

Peloponnese, Greece -

Tamarin, Mauritius -

Kahuku, Oahu, Hawaii

Crete, Greece -

St. Charles, Missouri -

Dead Sea, Jordan

Westlake Village,

Dubai, United Arab

California

Emirates

Shanghai, China -

Villingili Island, Maldives

Highland, California

-

Atlantic City, New Jersey

Newport Beach,

Itoman city, Okinawa,

California -

Japan

Ningbo, China

Marina del Rey,

Corfu, Greece

California -

Guangzhou, China -

Chicago, Illinois

Palm Beach, Florida -

Yountville, California

Huntington Beach,

Palm Springs, California

California

Serengeti, Tanzania

121 | P a g e

Paradise Island, Bahamas
Hollywood, California
New Orleans, Louisiana
Bend, Oregon
- Windsor, UK -
Las Vegas, Nevada
Jimbaran, Bali, Indonesia
Thessaloniki, Greece
Carlsbad, California -
Kang-Won-Do, South

Rangali Island, Maldives
Naples, Florida
Belle Mare, Mauritius
Jeju Island, South Korea
Kauai, Hawaii
Dublin, Ireland
Nusa Dua, Bali, Indonesia
Nayarit, Mexico
Tianjin, China
London, England
Mexico, D.F., Mexico
Athens, Greece
Bora Bora, French

Korea

Kohan, South Korea
Carefree, Arizona
Los Cabos, Mexico
Sun City, South Africa

Polynesia
Amman, Jordan

Henderson, Nevada
Dana Point, California

Perez Architects

Gretna, LA

The City of New Orleans

The City of Kenner

The City and County of Denver, CO

The U.S. Department of Transportation

The U.S. Army Corps of Engineers

Nottawaseppi Huron Band of the Potawatomi

Ascension Parish Government, LA

Jefferson Parish Government, LA

Hancock County Government, MS

Housing Authority of New Orleans

The National Park Service

The New Orleans Aviation Board

The New Orleans Regional Planning Commission

The Jefferson Parish Public School System

The City of Montgomery, AL

National Aeronautic and Space Administration

The Port of New Orleans

Ernest N. Morial Convention Center

GNO Expressway Commission

Louis Armstrong New Orleans International Airport

Orleans Parish Sheriff's Office

The City of New Orleans

The McDonnel Group

122 | P a g e

Financial Capacity of Respondent

123 | P a g e

Our Offer to the City

Our offer is for a 99 year lease from the New Orleans Building Corporation, in return for:

A. Five Million Dollars ($5,000,000) paid to the New Orleans Building Corporation (or the city of New
Orleans, as requested) in the following manner:

1. At the signing of the Lease: $1,250,000 to the New Orleans Building Corporation for the year
2013, assuming our lease with the city is signed in 2013;

2. $1,250,000 on December 31, 2014;

3. $1,250,000 on December 31, 2015; and

4. $1,250,000 on December 31, 2016; and

B. An annual lease payment to the city of New Orleans in the amount of One Million Five Hundred
Thousand Dollars ($1,500,000), payable December 31, 2017, or within 30 days of receipt of the
Certificate of Occupancy (CO) for the building, whichever comes last, and every year thereafter on
that date; there will be a Consumer Price Index (CPI) adjustment to the base rent at the end of every
fifth year, based on the date from the first lease payment. The amount of the CPI adjustment will be
determined by the average of the CPI increase/decrease for the previous five years, but not to exceed
ten percent (10%) increase per review period.

Critics have long argued that special tax districts should not be a part of redeveloping the property. We do not ask
for tax decreases. The Bureau of Governmental Research has noted in the past that a TIF ("Tax Increment
Financing" District) was unfair to existing hotels, all of which have to pay the 13 percent tax, and claimed it would
cannibalize guests from other hotels. We do not ask for a TIF.

The history of this site is that private investors have bid too high in their effort to secure the development rights
from the city. While this may have worked on the front end - resulting in won bids or contracts, it ultimately
doomed, together with other factors, the long-term financial feasibility of the proposed developments. Our
proposal gets it right - on the front end and on the back end.

The uses envisioned herein will dramatically attract even more tourists to this central part of the city, bring them
through the World Trade Center building to the more-enlivened waterfront. These proposals show the city, in
narrative and in economic analysis, that our proposal will bring great economic income and increased tourism.

One of the main reasons the former solutions for this site did not work was because the offers to the city made
by earlier developers' proposals were unreasonable. They bid high to win the contract, but they later sunk the

124 | P a g e

project's ability to be financially feasible. Therefore our offer is a fair value, but is not be bloated to hope to
outbid others on this sole criterion. What we provide the city is an array of uses that will not only be lucrative in
their own, and thus produce significant income in and of itself for the city - more than other uses - but which will
also generate significant additional tax and other revenue from more tourism, an entirely new type of tourism
(international interests), a greater set of attractions, upped dividends from the greater use of currently
underutilized properties. A one-time, up-front windfall payment to the city is much less helpful than is a later
stream of significant new annual revenue.

James H. Burch, LLC proposes to lease the World Trade Center building and property via a ninety- nine (99)
year lease hereinafter ("Conveyance"). James H. Burch LLC proposes to enter into negotiations with respect to
the lease with the New Orleans Building Corporation (NOBC). Terms and Conditions of the conveyance shall be
agreed to in Lease Agreement with the City of New Orleans. Subsequent to entering into the lease, James H.
Burch LLC looks forward to working with the City of New Orleans and expects to share risks and rewards in the
creation of this brightest star in the future tourism of New Orleans. James H. Burch LLC will proceed expeditiously
in the negotiations with NOBC, and in financing and developing the property, so as to place the property into
commerce as soon as reasonably practicable and minimize the adverse impacts on public resources and on
surrounding properties and neighborhoods.

125 | P a g e

Columbian ational

H£d Estate Fmtmce, LLC

James H. Burch LLC has selected ColumbiaNational Real Estate Finance, LLC to provide financing for the World
Trade Center redevelopment, because of their history of success on projects such as this. ColumbiaNational has
endorsed this proposal, contingent upon satisfactory negotiations with the city after James H. Burch LLC receiving
the bid. ColumbiaNational is a full service, commercial mortgage banker, arranging permanent non-recourse
mortgages as well as equity and/or mezzanine debt.

ColumbiaNational was founded in 1939 by the late James W. Rouse, the pioneer behind The Rouse Company.
Under his leadership, The Rouse Company was responsible for some of the largest and most innovative suburban
development and urban redevelopment projects in the U.S. He introduced, or at least helped popularize, the term
"urban renewal." In the 1950s, his fledgling company created the term and built the first indoor "mall." In the
1960s, he was the first in the nation to focus on "planned communities," stressing a sense of community in which
people came into contact with one another and developed relationships and neighborliness. His greatest
achievement in this endeavor was the new city of Columbia, Maryland (home of ColumbiaNational). In the 1970s,
Rouse took up "festival marketplaces," creating such urban legends as Faneuil Hall (Boston), South Street Seaport
(NYC), Market East (Philadelphia), Harborplace (Baltimore), St. Louis Union Station, and, of course, Riverwalk
Marketplace in New Orleans! Just as Jim Rouse was always innovative and ahead of his time in bringing
communities into a future emblazoned with grace and values, so too does ColumbiaNational, in conjunction with
James H. Burch LLC, bring this determination and creativity to New Orleans again at this World Trade Center site.

What most people don't know is that Mr. Rouse was a mortgage banker before he was a developer. The
commercial mortgage banking firm he started over 70 years ago has since become ColumbiaNational Real Estate
Finance, and remains committed to the hallmarks of the Rouse philosophy: Integrity in all endeavors, exceptional
service consistently delivered, and a client focused culture. With over 70 years of dedication to clients' complete
success, capital sources consist primarily of long standing relationships, some dating back to the 1940's, including
insurance companies, pension funds, Freddie Mac, HUD REITS, investment banks, commercial banks, closed end
real estate funds, and private equity investors. ColumbiaNational services approximately $3.6 billion of its own loan
originations. They are also a member of the Real Estate Finance Alliance ("REFA"), a national affiliation of
independent commercial mortgage bankers. REFA members are companies like ColumbiaNational - leaders in
major real estate markets across the country - who share information and experience, thereby enabling an even
higher level of research and service. Only members of REFA, representing more than $25 billion in commercial
mortgages serviced for lender clients nationwide, can tap this vast store of expertise to bring national perspective
to local mortgage issues.

126 | P a g e

Columbia National

Rrtil Estate Finance, LLC

April 10, 2013

Mr. James H. Burch

Managing Partner

James H. Burch LLC

1 341 9 Cavalier Woods Drive

Clifton, VA 20124

C/O Peter Arey

Re: RFP Proposal No. 4051-01414 -World Trade Center
City of New Orleans

Dear Peter:

1 have reviewed your proposal for redevelopment of the above referenced World Trade Center site. We ran
preliminary analysis based on your cost, revenue projections, and sources and uses. I believe that debt
proceeds to construct and reposition the subject property at the levels you are requesting are available in
today's construction financing market.

Having successfully worked on large construction loans with you in the past, I look forward to the
opportunity to assist you in bringing this proposal to fruition.

Please keep me apprised of development plans and timing as you proceed through negotiations with the city
of New Orleans and the New Orleans Building Corporation. Please let me know if there is any additional
information we should be reviewing at this time and/or if you have any questions or comments we can
address about our firm's capabilities or the debt financing markets in general.

Best Regards,

Scott H. Park
Managing Director

1 667 K Street. NW
Suite 510

Washington DC 20006
202/872-0737 Office
202/872-0920 Fax

Columbia National

Real Estate Finance, ZXC

128 | P a g e

has a long and proud history serving
the commercial real estate industry. Since 1939 when visionary thinker —
the late James W. Rouse — founded the company, Columbia National has lived
up to Its originator's inimitable style by providing in-depth market knowledge,
commitment to exceptional service, and national scope.

In-Depth In a society where job mobilit) is often a way of life, the tenure of
Market Columbia National'* Managing Dirwtois stands »m — on aveiage.
Knowledge 'Jl years with the < ompany. The in-depth collective knowledge

of our Managing Directors coupled with our unparalleled lending
platform, uniquely qualifies us lo serve lenders and developers
with superior efficacy.

Exceptional
Loan

Administration

Our loan administration group, located in Columbia, Maryland,
maintains one of the largest and most efficient portfolios in the industry.
Columbia National services S6 billion in commercial and multi-family
mortgages. Within our portfolio we represent over 20 institutional
inve stors such as insurance companies, pension funds and money
renter banks.

At Gokunbiai National, we oiler our clients a wide range ol capabilities
including: Central Servicing Functions; Investor Accounting: Property
Inspections: Portfolio Reviews: and Risk and Asset Management.
Our loan administration platform utilizes McCracken Financial Software
and other industry standard software packages.

National
Scope

In the years since its founding. Columbia National has grown to
become a preeminent commercial mortgage banker with an unmatched

lending platform. Ai Columbia National, we:

■ Originate and service commercial loans based on correspondent
relationships with a large cadre ol life insurance companies and
pension binds,

■ Originate and service loans for both Freddie Mar and Fannie Mae.

■ Arc an approved lender for HUD insured loans.

■ Represent the most competitive and reliahle commercial real
estate conduits lot Wall Street capital,

■ Can arrange placements for: equity, mezzanine debt, participating
debt ami joint-venture partnerships.

Our lending platform has the breadth to enable us to find the beja
source of capital for any commercial real estate loan request, regardless
of size, type or geographic location. Our strengths, coupled with a
long record of outstanding performance, provide clients with a robust
selection of financial resources.

3. Surety Company Approval

Liberty
P Mutual

450 Plymouth Road, Suite 400
Plymouth Meeting, PA, USA 19462

Liberty Mutual Surety

April 10.2013

New Orleans Building Corporation
Bureau of Purchasing
Chief Procurement Officer
1300 Perdido Street. Suite 4w07
New Orleans, LA 70 1 1 2

RE: The McDonnel Group, LLC

Project — The World Trade Center
RFPNo. 4051-01414
365 Canal Street # 1 120
New Orleans, LA 70 1 30

To Whom It May Concern:

Our client will be submitting a proposal for the above referenced project. Liberty Mutual Insurance Company is pleased
to share our experience with The McDonnel Group. LLC. Liberty Mutual Insurance Company has been engaged in the
surety program of The McDonnel Group. LLC since 2008.

At the present time. Liberty Mutual Insurance Company provides a $200,000,000 aggregate surety program to The
McDonnel Group, LLC.

Should the captioned project be awarded to and accepted by The McDonnel Group, LLC we are prepared to provide
the required bonds on their behalf. Our support is conditioned upon completion of the underwriting process, including
Satisfactory review of contract documents, confirmation of financing and our ongoing review of the operational and
financial capacity of The McDonnel Group, LLC. This letter is not an assumption of liabil ity and is issued only as a
prequalifieation reference request from our client.

We are pleased to share with you our favorable experience and high regard for The McDonnel Group. LLC. It should
be understood that any arrangement for bonds is strictly a matter between The McDonnel Group, LLC and Liberty
Mutual Insurance Company.

Sincerely,

LIBERTY MUTUAL INSURANCE COMPANY

Kathleen L. Bemi, Attorney-in-Fact
c/o Arthur J. Gallagher Risk Management Services, Inc.
Ill Veterans Blvd., Suite 1130
Metairie. LA 70005-3039
(5041888-1 100

130 | P a g e

FINANCIAL FEASIBILITY OF THE PROJECT

131 | P a g e

As developers, we had a sense of the market when we first considered this site and development concept. As
entrepreneurs, we are constantly following trends, watching other developers and looking for new niches to fill in
the market. Based on this knowledge, we identify opportunities and create concepts for taking advantage of those
opportunities. This initial idea made intuitive sense to us, but gut feelings are not a sound basis for investing multi
millions of dollars in construction.

This market analysis has been prepared using skilled and experienced professionals, incorporating detailed
information about the market. The market analysis defines the market segments and differentiates the project, two
tasks necessary to target customers. To keep the information pertinent, this study will be updated throughout the
development process.

This market analysis is very conservative, on purpose. Data has been checked and cross-referenced with our
architectural, engineering and planning firms, and general contractor. We have worked on this Market Analysis with
Gary Schnellbacher, of Schnellbacher Development Services, and who has much experience in both New Orleans
market and in these specific areas of programmatic interest, resulting from his former position with PKF and
his/their market studies. Please see the letter on the following page, as it shows the conclusions of his work with us
on this market analysis throughout this process.

According to Allison Plyer, Director and Chief Demographer, the Greater New Orleans Community Data Center,
New Orleans is rebounding and, in some ways, performing better than before. New Orleans has weathered the
recession relatively well. From October 2007 to October 2012, the New Orleans metro experienced a 0.6 percent
increase in jobs while the nation lost 3.0 percent of all jobs. Entrepreneurship has spiked in the metro area post-
Katrina with 427 of every 100,000 adults starting a business during 2008-10 compared to 333 of every 100,000
adults nationally.

According to the U.S. Census Bureau, New Orleans was the fastest growing large city in the country between 2010

and 2011. The metro area, with 1,191,089 residents, has 90 percent of its 2000 population of 1,316,510. The New
Orleans metro area is more diverse than in 2000 with a gain of 36,761 Hispanics and 4,552 additional Asian
residents. The Latino population in the metro spiked 63 percent between 2000 and 2011 — a rate greater than the
nation's 47 percent growth. In the city, the Census Bureau estimated 109,903 fewer African Americans in 2011
compared to 2000, but also 16,524 fewer whites and 4,101 more Hispanics. Nonetheless, African Americans still
represent the majority of the city's population at 59 percent, down from 67 percent in 2000.

132 | P a g e

SCHNELLBACHER DEVELOPMENT SERVICES, LLC

1 62 1 SW Mulvane Street
Topeka. Kansas 66675-0263
785.224.4741
GSCHNELLBACHER@HOTMAIL.COM

April 10, 2013

Mr. Jim Burch

Managing Member

James H. Burch

13419 Cavalier Woods Drive

Clifton, Virginia 20124

RE: Letter of Interest

Dear Mr. Burch;

Thank you for contacting me about developing a financial feasibility study for your redevelopment project
involving the World Trade Center in New Orleans, Louisiana. In this regard, I am attaching a preliminary
engagement letter outlining the scope of work anticipated to be required to complete my analysis as a basis for
discussion in the development of a finalized engagement letter.

I understand you are still in the RFP stage of this project and intend to have numerous conversations with city
officials to finalize the details of the City's offering, lease terms, construction permits and parking issues. In this
regard, 1 can make myself available to attend any meeting you deem appropriate for my attendance. Additionally, I
would appreciate be involved in the finalization of the project's various aspects to insure that I completely
understanding the scope and magnitude of your development and will attempt to make myself available for all
related meetings and conference calls.

As we discussed on the phone, there are numerous issues that must be solidified before I would be able to
complete such an analysis. As I understand our conversation, there will be seven aspects to your development;
hotel rooms, residential apartments, multi-floors of office space, four floors of "Eyes on the World" consulates
themed to participating nations and open to the public on a fee-paying basis as new tourism, three tiers of "World
Plaza" retail space, open public space with entertainment and a parking garage. Each of these aspects will require a
separate analysis before the applicable revenue and expense information can be blended into a feasibility study
for the development. I will also require financial details related to the completion of the development; a copy of
the master lease with the city, financing documents, applicable tax credit programs, any applicable real and
persona] property tax estimates and other related documents, studies and agreements, and the finalized
construction and renovation cost estimates.

Based on the information you have forwarded to me thus far, I believe this project is an excellent fit for the
redevelopment of the World Trade Center building and congratulate you for your vision and efforts. The proposed
redevelopment project plans will enhance the look, feel and usability of the waterfront in the Spanish Plaza area,
as well as, provide significant additional income to the city government.

I am excited by the opportunity to be of service in the matter and look forward to working with you on this exciting
project.

Best regards,

Schnellbacher Development Services, LLC

Principal

133 | P a g e

MARKET ANALYSIS for A LUXURY HOTEL

PROJECTED RATES

These were the some of the available discount rates per night found at certain upscale New Orleans hotels, for
March 26, 2013; they were found online at Hotels.com:

Omni Royal Crescent

$159

Marriott Convention Center

$159

Loew's New Orleans

$179

JW Marriott

$229

Bluegreen Club La Pension

$189

W New Orleans

$149

Marriott - New Orleans

$169

Hyatt French Quarter

$169

Roosevelt / Waldorf Astoria

$199

Hyatt Regency

$246

Hilton Riverside

$169

W French Quarter

$215

Westin Canal Place

$169

Holiday Inn French Quarter

$173

Crown Plaza French Quarter

$159

Harrahs

$344

Omni Royal Orleans

$199

Intercontinental

$164

Ritz-Carlton

$249

Enaissance Pere Marquette

$189

Bourbon Orleans

$289

Melrose Mansion

$415

Hyatt Convention Center

$134

Frenchmen Orleans at 519

$239

In April, the average daily rate at New Orleans area hotels was $154, said the Times-Picayune, the highest it has
been since February 2002, when hotels commanded $159.40 from guests, according to a report by Smith Travel
Research. The average rate for the first four months of 2012, the last period for which data is available, was
$148.61, a 12.6 percent improvement on the first four months of 2011. New Orleans produced the greatest percent
change in average daily rate from April 2011 to April 2012 compared with other cities in the top 25 hotel markets.

Luxury Hotels average $262 per night. We will assume a conservative seasoned rate of $225, with a first year rate
of $175, a second year rate of $185, a third year rate of $195, a fourth year rate of $215, and a fifth year rate of
$225 for our luxury hotel room rate.

n ' > 1 1 > 1 ■ » 1 ■ ■ 1 ■ ' 1 ■ ' 1 ■

itat tin rm n w h m Mot xa: jocj xu sou sou soue hh sou xa> ma sum w.r

New Orleans average daily room rate, revenue since 1993 The Times-Picayune

134 | P a g e

PROJECTED OCCUPANCY

On June 3, 2012, Jaquetta White reported in The Times-Picayune that hotel occupancy rates in the New Orleans
area are higher than they've been in more than a decade. Tod Chambers, general manager of The Roosevelt Hotel
and president of the Greater New Orleans Hotel & Lodging Association said "A lot of good things have happened
for us to be able to drive rates and (revenue) here in the city."

NEW ORLEANS ES TOP HOTEL MARKET

Rankings based on average daily rate increase from. 201 1 to 2012

AVERAGE BAIL? RATE

Rank

City

April 2011

April 2012

Percent change

%

New Orleans

$137-83

$154.00

^^^m 11.6

San Fransisco

$137.01

$152.44

11.3

a.

Chicago

$108.87

$119.96

10.1

4.

Boston

$143.99

$163,43

i^H 9.7

6,

Philadelphia

$113-79

$t?4.?1

mmm a?

6.

Denver

$93,37

$100.79

8.0

7-

New York

$236.05

$253.90

m i.i

8.

Los Angeles

$119,88

$128.23

7,0

9.

Oanu island

$162.42

$173.83

7.0

10.

St. Louis

$82.81

$S&43

68

Source: Smith Tr ant Pesswcri

RYAN SWIM /THE TIMES-TOAYUNE

HVS (Hotel Valuation Services) noted in a January 31, 2012 report by Adam R. Lair, entitled "Hotel Market
Intelligence Report: New Orleans" the following:

Nearly 200 of the city's hotels were closed following Hurricane Katrina. The New Orleans economy mounted a
modest recovery over the next few years, but was crushed again with another one/two punch, first the national
recession in 2008/09, then by the Deepwater Horizon oil spill in 2010. Now the hotels of the city are on a rise and
flourishing. While the Deepwater Horizon oil spill hurt tourism, local hoteliers report that the cleanup efforts
actually boosted performance in 2010 and aided in the market's recovery from the recession. Furthermore,
performance remained strong in 2011, after the cleanup crews had gone. Occupancy in the market has now
reached levels seen prior to Katrina, and— for the first time since 2004— RevPAR growth is again being driven by a
powerful rise in average rates. This is a promising sign of performance growth for New Orleans hotels and has
opened the door to new builds and redevelopments.

135 | P a g e

Most of the hotels in the city have gone through significant renovations. Late 2011, more than two dozen New
Orleans area hotels were undergoing, had recently completed or were about to begin renovations.

Not only are rates higher citywide, but so is RevPar, or revenue per available room, a key lodging benchmark. In
April 2012, RevPar at New Orleans area hotels was $115.33, the highest it had been since February 2009, when
hotels recorded $119.18 in revenue from each room booked, according to a Smith Travel Research. RevPar in the
first four months of 2012, was $105.11, up 14.8 percent from the first four months of 2011.

New Orleans Tourism Statistics

Total Wuioi

Yur

Number of Visitor: *

dung."

Sparteine*

Changst

2003

10,100,000

$. 3,500,000,000

20O4

4500,000

(15.3) %

4,500,000,000

&9 %

20O5(N)

5,300,000

(37J6)

tw

2,600,000,000

(24,0)

2006

3,700,000

(30,2}

{34,0)94

2,800,000,000

2007

7,100,000

91.9

(5.8)

4,800,000,000

1.6

2008

7,600,000

7J0

(23)

5,100,000,000

2,S

2009

7,500,000

{1.3)

(2-5)

4,20Oj0O0,00O

{1.1)

2010

3,300,000

10.7

(0-*)

5,300,000,000

2-4

Yeor-to-date through June

2010 4,455,000

2011 4,800,000 7.7 %

(Hi HepreuiMS Jin. - Jun. liputi due 10 Humcme
■Sounded

■-flimujl iwntjJH e ch» nee 1'njntthe WtVKfJiltsr

'"Artftual average tarrtuounded percent* je dung* 1 rrorn 2001 ( pre- Kain nil

tamnuUvff Jgf coniDOunfltd ptrwitjge (Jungf Ire-mill* fint yf*r si am

Sourte: New Orleans Co-Aversion £ Vii ran Bureau

HVS reports that Meeting and group demand continues to support local hotels. The Ernest N. Morial Convention
Center underwent a $60-million renovation following Katrina and has exceeded pre-Katrina booking levels each
year since 2007. The convention center is now the sixth-largest in the nation with 1.1 million square feet of
contiguous space. In December of 2011, construction began on a $50-million renovation project that reconfigured
the convention center's Hall A into an 86,000-square-foot function space, renamed the "Great Hall."

New Orleans hotel transactions exceeded pre-Katrina levels in 2009, 2010, and 2011. Rooms sold in 2011 grew
above 1,000 for the first time in three years— doubling the number of rooms sold in 2010— and the average price
per room, at $101,380, hit its highest point since 2005. The HVS study notes that "Current supply in the market
stands at approximately 37,000 rooms, some 1,700 rooms shy of the pre-Katrina peak in supply."

Renovations and hotel re-openings include the Sheraton, Marriott, Hilton Riverside, Ritz-Carlton, Intercontinental,
and Loews. The Hyatt Regency, closed since Katrina, reopened October 2011 following a $275-million renovation
that overhauled its 1193 rooms and added a 50,000-square-foot exhibition hall for in-house co2nventions; the hotel
sits squarely in the city's Sports & Entertainment District, which includes the Superdome and the $13.5-million
Champions Square.

136 | P a g e

Several new boutique hotels have also entered the market. The 166-room Saint Hotel opened in December of 2011
on Canal Street, the result of a $39-million renovation of the former Audubon Building. The Hotel Modern opened
the same month, following a renovation of the former Hotel Le Cirque at an estimated $50,000 per room.

HVS Study Conclusion: "The HVS 2011 U.S. Hotel Valuation Index forecasts significant growth in New Orleans' hotel
values through 2015, which would be a welcome change from the wavering real estate values since Katrina hit in
2005. Funds from the private and public sectors have been hard at work bringing the city's economy and hotel
industry back from the brink over the past six years, and recent employment, visitation, occupancy, and average
rate statistics bear signs that this work has not been in vain. Given a hoist from the recovering national economy,
hopes are high that New Orleans' commercial, tourism, convention, and hotel segments will remain on the ascent."

ASSUMPTIONS FOR OUR LUXURY HOTEL

RATES: As previously stated, we will assume a conservative seasoned rate of $225, with a first year rate of $175, a
second year rate of $185, a third year rate of $195, a fourth year rate of $215, and a fifth year rate of $225 for our

luxury hotel room rate.

OCCUPANCY: Based on the facts noted above and on the assumption of both compelling marketing for the hotel
and much free publicity deriving from the noteworthiness of this grand development, we will assume a 5 year
buildup period for the hotel, with first year occupancy at 45%, second year occupancy at 55%,
third year occupancy at 65%, fourth year occupancy at 70%, and subsequent years'
occupancy at 75%.

This, then, based on these assumptions, will produce income as shown on the following chart:

PRELIMINARY INCOME PROJECTIONS
LUXURY HOTEL AT WORLD TRADE CENTER

year

#

rooms

rate

occupancy

daily gross

annual gross

1

550

$175

45%

$ 54,725

$ 15,809,063

2

550

$185

55%

$ 74,250

$20,426,313

3

550

$195

65%

$ 92,400

$ 25,445,063

4

550

$215

70%

$103,125

$30,212,875

established

550

$225

75%

$103,125

$ 33,876,563

137 | P a g e

COST ASSUMPTIONS

The U.S. hotel industry achieved a net income of approximately $33 billion, or 21.4% of total
revenues, during 2011— a healthy increase of 15.7% over 2010 levels, according to STR through its
Hotel Operating Statistics, or HOST, program.

Hotel class makes a difference for profit levels

Profitability increases during 2011 ranged from 9.3% to 41.5% among the classes. This range can be
explained by evaluating the performance of the individual classes. The chart below visually depicts
each class' 2011 profitability (net income as a percent of total revenues) and percent change from the
previous year. The total U.S. profitability and percent change creates a benchmark.

H&il Ftoflrtrty E3%CDoi^» ■ To»U J 2011 ProfflobUy To*l U.S.%Oiwg»

413%

11

27.1*

2Q7-.

S3 .

IS.7%

!a * I 12//:

Economy Mkhcdt Uppw M*c!i» Upk<K Upc«r Upsc si* Lwury

Based on an HV5 study for 2012, for luxury hotel rooms, less partial building & site improvements,
less partial soft costs, and less pre-opening capital, the general contractor has estimated a
building/furnishing cost of $125,000 per room, or $68,750,000.

138 | P a g e

MARKET ANALYSIS for RESIDENTIAL RENTALS

In March 2011, Dr. Ivan Miestchovich, University of New Orleans, Institute for Economic Development and Real
Estate Research, together with GCR & Associates, Inc, Rebecca Rothenberg, Principal Investigator, and Rafe
Rabalais, Senior Planner, and Richard Poche, GIS Specialist, (hereinafter, "Miestchovich/GCR") produced a report
entitled, New Orleans Market Assessment - A Comprehensive Analysis of Demand and Supply Dynamics, for the
Disaster Recovery Unit in Baton Rouge. Because this report is public property and because it lays out much of the
economic groundwork of a market analysis for this project, it is quoted here below, that which is indented below.

TARGETED NICHE MARKETS ARE NECESSARY TO ACHIEVE SUCCESS

"So far, the market has added enough renters to maintain an occupancy rate above 85%, and recent surveys
conducted for this project and third party sources show that occupancy rates have increased over the past year,
now falling between 88% and 90%. A 93% to 94% average occupancy level typically reflects a more balanced market
and is a condition that is achievable within the New Orleans rental market over the next few years under normal
growth assumptions for the local and regional economy. Rising occupancy rates and absorption of vacant inventory
will also be helped by the relatively low volumes of new units expected to enter the supply pipeline. In short, the
market is signaling caution as we move forward over the next two to three years. This does not mean that the
addition of new inventory is not warranted but that its entry should be targeted to fill very specific niches-
niches potentially defined by geographical location or price point. The fact that some rental units are performing
better than others suggests that these factors should be examined as part of the due diligence process and that
rental demand within the region is not uniform." (page 7)

"Rents and occupancy rates are highest in the CBD/French Quarter, and are stable in Mid-City, Metairie and the
west bank of Jefferson Parish. ... There has been a greater level of activity and

investment within the core of New Orleans driven significantly by the massive public investment focused on
post-storm rebuilding and redevelopment. This has fueled demand for the area as a primary nucleus of economic
activity and commerce for the region." (page 8)

"Current estimates provided by Nielsen Claritas forecast that 10,000 new renter households will
be added to the region over the next five years, a 1.6% annual growth rate. Under this growth scenario, there will
still be an excess of rental housing but at much healthier occupancy rates above 90%. These estimates are modest,
not taking into account two future economic drivers for the region - the biomedical district expansion in downtown
New Orleans and the redevelopment of the Marine Corps Reserve headquarters (Federal City) in Algiers. These two
initiatives are investing more than $3 billion in construction, and according to economic impact analyses
commissioned by the BioDistrict and Federal City, should create 12,000 direct jobs and 30,000 jobs overall when
both projects have reached maturity." (page 8)

139 | P a g e

OCCUPANCY RATES GOING UP

"Even with these additions to inventory, the steady return and growth of population and households in the city has
helped to drive demand for rental apartments. The result has been an increase in average apartment occupancy to
85.3% at year end 2008 followed by a rise to 86.7% in 2009 and 87.2% at the end of 2010. And, considering the
sharp reduction in new construction in the pipeline, parish wide apartment occupancy rates are likely to continue
edging up through 2011 and into 2012. ... The strongest performing sectors are the Uptown, Mid-City and
Warehouse District areas, and as evidenced by our field surveys of small rental properties, the southern portion of
the Bywater planning district. Each of these have reported average occupancy rates at or above 92% and have
shown consistent improvement since 2008 when the market was confronted with the need to absorb a wave of
new inventory additions which continued through much of 2009. These sectors share one significant common trait,
namely access to cores of economic activity and employment opportunities. This includes the CBD, the
redeveloping medical center and the Uptown (St. Charles Avenue/Magazine Street) corridor. These are all well
served by public transit thus making them readily accessible to apartment residents living in these sectors of the
market." (page 34)

"Under current conditions, it is unlikely that there will be a shortage of rental housing in the New Orleans area over
the next five years. Therefore, developers cannot rely on demand alone to determine their success but must also
factor in their project's particular attributes related to location, features and target markets ... The French Quarter,
Garden District, Uptown, Lakeview and English Turn Planning Districts are the highest priced markets both for
homeownership and rental units. What is perhaps more interesting is the change that has occurred in the markets
since Hurricane Katrina. The best measure for this would be a comparison of homes categorized by the selling
agents as "in excellent condition," meaning newly remodeled and updated with all systems in working order. This
measure is preferred over the complete pool of listed homes due to the glut of homes in poor or below average
condition that entered the market after 2005, skewing the results. These data show that the French Quarter, CBD
and Bywater all increased in value by 30% to 40% ..." (page 96)

140 | P a g e

QUALITY OF LIFE INDICATORS NECESSARY TO ACHIEVE HIGHER RATES AND OCCUPANCY

"... as would be expected, the French Quarter and CBD have the greatest concentration of employees, retail
opportunities, restaurants and retail earnings. A key indicator for quality of life is one's ability to live in close
proximity to job opportunities. Based on the data, the majority of jobs in New Orleans are concentrated in the
French Quarter/CBD followed by Mid-City and Uptown." (page 98-99)

Quality of Life Indicators in the French Quarter/CBD at end of 2010:

% of Pre-Katrina Commercial Properties Currently Active 87.7%

Total retail establishments, restaurants, and grocery stores 930

Earnings - retail establishments, restaurants and grocery stores $1,041,089,000

Employees 77,670

"Growth rates and thus housing demand are ultimately driven by an expanding economic base that
provides new jobs, fuels increases in household income and attracts greater private investment ... post-storm
investments in facilities such as the Biolnnovation Center and the Louisiana Cancer Research Center will provide a
strategic nucleus for the redeveloping Biomedical District that will be anchored by a new LSU/VA medical center
complex." (page 104)

NEW, HIGHER-PAYING JOBS BRING INCREASED DEMAND FOR LUXURY RESIDENCES

"The current projections estimate an additional 17,180 jobs over the next ten years, with substantial gains in
white collar and service industry jobs counterbalanced with significant job loss in blue collar industries. According
to these projections, the New Orleans RLMA is slated to gain an additional 28,600 jobs in health care, professional
services, education and tourism industries while losing roughly 10,500 jobs in manufacturing, construction, oil
and gas and transportation." (page 105)

"The biomedical district in downtown New Orleans is slated for significant investment within
its hospitals and research facilities. More than $2 billion has been committed or is currently going
towards construction of a new LSU teaching hospital, VA Hospital, the Louisiana Cancer Research
Center and an incubator for biomedical research and development (the Biolnnovation Center). A

recent economic impact analysis conducted by Dr. James Richardson of LSU provides conservative
estimates of 9,800 direct job growth and an overall job growth of 22,000 attributable to the
Biomedical District. The Biolnnovation Center and the Louisiana Cancer Research Center are both
scheduled to begin operations in 2011 and the two hospitals are scheduled to open in 2014 ... Although we
currently do not know what the full impact will be from these two initiatives, it is
reasonable to assume that the New Orleans area has the potential to exceed the current growth
projection of 1.3%. For the high growth scenario, we assume an annual growth rate of 3% for New
Orleans and St. Tammany parishes and a 1% growth rate for Jefferson Parish. The success of these

141 | P a g e

two initiatives will ultimately be based on private investment and corporate relocations, which have more to do

with the national economy and the quality of life in New Orleans than the value of

construction. With that said, the high growth scenario example illustrates how minor changes in

population growth will determine whether or not there will be a surplus or shortfall of rental

housing. Using these modestly higher growth rates, and under current projections for construction

activity and development, the metropolitan area would have a potential shortfall of 5,401 rental

units by the end of 2015." (page 109)

DEMAND AND SUPPLY

The Miestchovich /RGA study also states that the distribution of Family Types by the year 2015 will be over one-half
"Non-Family Elderly" (a household of one or more unrelated persons in which head of household is 62 years of age
or older) or "Non-Family Non-Elderly" (a household with one or more unrelated persons in which head of
household is not 62 years of age of older), in a moderate growth scenario. In a strong growth scenario, which is
what they anticipate, the percentage of Non-Family Elderly and Non-Family Non-Elderly would be nearly 60% of
the potential rental pool. That is exactly the target market for the luxury rental units at the World Trade Center.
They then state: "Under a somewhat more aggressive scenario— one that hinges on stronger economic and
population growth— the region would have an apartment deficit of approximately 5,400 units in 2015. If key
potential economic drivers in the region truly take hold— such as the biomedical industry, the film industry, and the
Federal City complex— the region could more closely mimic the growth patterns experienced by other southern
cities over the past twenty years, thereby producing a stronger rental market than even the high growth scenario
within this report."

ASSUMPTIONS FOR RESIDENTIAL UNITS AT CENTER FOR THE AMERICAS

According to Wade R. Ragas, PhD, MAI, SRA, of Real Property Associates, Inc., where the World Trade Center luxury
residential rental units will be, in the Historic Center of New Orleans, the average unit was 855 square feet in 2011
($1.41 per square foot), and the occupancy there was 97%.

According to RentOMeter.com, an Internet site which compares rental rates in neighborhoods all across the
country, there are presently 41 two bedroom rental apartments, as of March 20, 2013, within .3 mile of our site,
and the average rent for those two bedroom rental units is $1,925 per month. The average of the top 20% of
those units is $2,695, and the average of the top 10% of those units is $3,025. The average rate would be higher if
units in the Central Business District, which are less expensive than in the French Quarter where they are
considerably higher, were not factored in. For our two bedroom rental units, we will assume an opening rental
rate of $2,300 for year 1, and a rental rate of $2,650 for subsequent years .

According to RentOMeter.com, an Internet site which compares rental rates in neighborhoods all across the
country, there are presently 57 one bedroom rental apartments, as of March 20, 2013, within .3 mile of our site,
and the average rent for those one bedroom rental units is $1,560 per month. The average of the top 20% of
those units is $2,665, and the average of the top 10% of those units is $2,500. The average rate would be higher if
units in the Central Business District, which are less expensive than in the French Quarter where they are

142 | P a g e

considerably higher, were not factored in. For our one bedroom rental units, we will assume an opening rental
rate of $2,000 for year 1, and a rental rate of $2,250 for subsequent years.

We further estimate one bedroom, one bath rental units to be comprised of 1,000 square feet, and to cost $200 per
square foot to build out, or $200,000 per 1 BR/1BA unit cost. We estimate two bedroom, two bath units to be
comprised of 1,200 square feet, and to cost $200 per square foot to build out, or $240,000 per 2BR/2BA unit cost.

There will be 42 1BR/1BA units, for a total cost of $8,400,000 construction costs. There will be 46 2BR/2BA units,
for a total cost of $5,520,000 construction costs. Total construction cost for all units will be $13,920,000.

CONCLUSION

As mentioned previously, the most important factor in our analysis of sales potential for the luxury residential units
at World Trade Center is the result of the run of new development since Hurricane Katrina, biomedical research and
medical care facilities are poised to be pistons of the city's economic engine. Four new projects are located in the
city's Biomedical Corridor, adjacent to the CBD. Louisiana State University's new University Medical Center (UMC)
broke ground in April of 2011. The $l-billion center will include a 424-bed teaching hospital and is scheduled for
completion in 2015. A new VA hospital— the country's first in 20 years— is expected to include 200 beds and bring
17,000 new jobs to New Orleans when completed in 2014. Work on the Louisiana Cancer Research Center is also
underway, with an expected opening date later this year. Finally, the $46-million, LEED Gold-certified New Orleans
Bioinnovation Center, which opened in September of 2011, offers state-of-the-art laboratory, office, and
conference facilities that help put New Orleans on the cutting edge of biomedical research; the center is anticipated
to bring some 10,000 jobs to the city.

Most of these highly-paid medical professionals will be coming from out of town - to jobs new to New Orleans, not
jobs moving from another location - and so those new residents will be looking for upscale housing. The above
data shows that many, perhaps as many as a half, will be looking for rentals. Moreover, as the data shows, most
current wealthier residents, as well as newcomers to New Orleans, prefer to live in or near the French Quarter,
where the housing market is quite expensive and quite limited. There will be significant demand for our units.

PRELIMINARY INCOME PROJECTIONS

LUXURY RESIDENTIAL RENTALS - WORLD TRADE CENTER

year

# units

price/mo.

% rented/cum 1.

# rented/cuml.

rental income/
income/yr

1

42 1BR

$2,000

0%

46 2BR

$2,300

42 1BR

$2,250

0%

46 2BR

$2,650

3

42 1BR

$2,250

60%

$ 680,400

46 2BR

$2,650

$ 877,680

4

42 1BR

$2,250

80%

$ 907,200

46 2BR

$2,650

$1,170,240

5

42 1 BR

$2,250

90%

$1,077,300

46 2BR

$2,650

$1,389,660

143 | P a g e

MARKET ANALYSIS for RETAIL / RESTAURANTS / LOUNGES / BARS

■

Tourism in New Orleans

Tourism generates $6 billion for New Orleans' economy (ref: The New Orleans Metropolitan Convention &
Visitors Bureau and the New Orleans' Hospitality Research Center)

Tourism employs 70,000 people economy (ref: The New Orleans Metropolitan Convention & Visitors Bureau)
Tourism produces more tax revenues for the city than any other business sector: $250-300 million/yr.
economy (ref: The New Orleans Metropolitan Convention & Visitors Bureau)

The visitor experience today is better than it was prior to Katrina with 300 more restaurants than 2005, new
cultural attractions, $400 million of improvements into local hotels, $250 million of improvements into the
Louisiana Superdome and $92.7 million of improvements into the Morial Convention Center.
The number of annual visitors was 9 million in 2012, up from 3.7 million in 2006. "Reaching a milestone of nine
million visitors in 2012 during a tough national economy reinforces that tourism does not just happen on its
own, it takes aggressive, cutting-edge sales and marketing strategies," said Stephen Perry, President and CEO of
the New Orleans CVB. "The CVB and our partners work together every day to drive New Orleans' $5 billion
tourism industry that employs 75,000 people from every local neighborhood and fuels our state and local
economy."

In January 2010, New Orleans hospitality leaders announced a strategic unified master plan for the tourism
industry. The goal of the plan is to attract 13.7 million annual visitors by the city's 300th anniversary in 2018. If
New Orleans meets the master plan goals, the cumulative benefits through 2018 will be dramatic: $11 billion in
direct spending, 33,000 additional jobs with an average salary of $33,000 a year and $700 million in tax
revenue. Mayor Mitch Landrieu said, "The continued growth of both visitor numbers and spending is a reflec-
tion of the hard work of our hospitality industry. I feel confident that we will continue the upward trajectory as
we work toward the goal of welcoming 13 million visitors by 2018."

It was TRAVEL + LEISURE magazine's Destination of the Year in 2009. In its December 2012 edition,
TRAVEL+LEISURE magazine tallied 40,000 votes from its readers (travelers all), ranking 25 cities in dozens of
categories. The top ranking city in the USA was New Orleans. It was also voted best in three out of four of its
top four individual categories: Singles Scene, Happy Hour, and Music Scene.
There are currently 35,550 hotel rooms in New Orleans.
There are currently 1,105 restaurants in New Orleans.

New Orleans's tourism economic output now stands at No. 3 in the nation, behind only Las Vegas and Miami
(ref: MarketWatch in the Wall Street Journal, December 13, 2011)

144 | P a g e

Comparing key indicators in 2012 to 2011, the 2012 New Orleans Area Visitor Profile report found:

• Lodging spending increased by 17%

• Restaurant spending increased by nine percent

• Spending in bars and nightclubs jumped by 10.4 percent

• Entertainment/recreation increased by nine percent

• 76.1 percent of visitors surveyed were in New Orleans for vacation/pleasure

• 13.8 percent of visitors surveyed were in New Orleans for association, convention, tradeshow or corporate
meetings

• 10.1 percent of visitors surveyed were in town for general business

• 58 percent of business travelers extended their stay for pleasure for an average of 2.1 nights

Cruise visitors comprised about 1.7 percent of the total number of visitor responses, and they stayed an aver-
age of two nights in New Orleans before or after their cruise

• The proportion of visitors with income of $150,000 or more rose to 17.2 percent; 22.3 percent have a house-
hold income of over $100,000

• 41.1 percent of New Orleans visitors were in town for the first time; 58.9 percent were repeat visitors

• Overnight visitation from top feeder markets outside of Louisiana were: Texas, California, Florida and New York

• Visitors age 50-64 made up the largest demographic for 2012 visitors (37.7 percent), followed by 35-49 (29.7
percent), 25-34 (16.9 percent), 65 and older (11.0 percent) and 18-24 (4.7 percent)

• Overnight visitor stays in New Orleans remained the same between 2011 and 2012 at an average of 4.2 nights

• The proportion of overnight visitors staying in a hotel has increased over the past three years, reaching 61.3
percent

• Average party size was 2.9 people

• The majority of visitors who stayed in a hotel made reservations through the hotel website (27.5 percent), or a
travel website (22 percent). Twelve percent of visitors called their hotel directly, while eight percent used asso-
ciation housing during their stay in New Orleans.

• The majority of New Orleans area visitors surveyed arrived in their personal vehicle (48.9 percent) or by air-
plane (46.3 percent)

145 | P a g e

Retail rates currently asked for in this geographic area:

Retail Space for Lease
New Orleans, Louisiana

Revere Residences is a historic 120 year old building newly
renovated into a 6 unit upscale apartment/condo
developement that features a fantastic...

No. Spaces: 1
Rental Rate: $30.00
Space Available: 2,065 sf
Bldg. Size: 11,280 sf

Retail Space for Lease
New Orleans, Louisiana

Former Smoothie King/PJs Coffee Retail Space on Elk
Place near Canal St at Tulane Medical/Deming Hall Building

No. Spaces:1
Rental Rate: $20.00
Space Available: 1,800 sf
Bldg. Size: 300,000 sf

Retail Space for Lease
New Orleans, Louisiana

This is an excellent fully operating building in a prime
location. Zoning: VCE-1, Vieux Carre Entertainment District.
Permitted uses include:...

No. Spaces: 2

Rental Rate: $15.00 - $20.00
Space Available: 6,000 - 12,000 sf
Bldg. Size: 18,555 sf

Retail Space for Lease
New Orleans, Louisiana

For 94 years, 1201 Canal Street was home to the Krauss
Department Store, once the largest department store in the
South. Krauss opened for...

No. Spaces: 1

Rental Rate: $20.00

Space Available: 5,000 sf - 20,000 sf

Bldg. Size: 20,000 sr

Retail Space for Lease
New Orleans, Louisiana

Excellent Downtown/ French Quarter spots on St. Charles

Avenue. Located on one of the busiest streetcar spots for
tourists in New Orleans

No. Spaces: 1
Rental Rate: $35,00
Space Available: 560 sf
Bldg. Size: 560 sf

Retail Space for Lease
New Orleans, Louisiana

Approx. 3,968 sf on groundfloor. " Located between
Carondelet and Baronne Sts. downtown.

No. Spaces: 1
Rental Rate: $30.00
Space Available: 3,968 sr
Bldg. Size: 3,968 sf

146 | P a g e

Retail Space for Lease
New Orleans, Louisiana

Be a part of the rebirth of the theater District in a one-of-a-
kind historic building we all know, 1111 Tulane Avenue.
Prime restaurant or retail...

No. Spaces: 2

Rental Rate: $25.00

Space Available: 1,500-4,245 sf

Bldg. Size: 200,000 sf

Retail Space for Lease
New Orleans, Louisiana

This historic property was recently converted into 108 luxury

rental units, a 230 vehicle valet park garage and 10,000+

s.f. of street level...

Status:

No. Spaces: 4

Rental Rate: $25.00

Space Available: 300-6,316 sf

Bldg. Size: 353,000 sf

Retail Space for Lease
New Orleans, Louisiana

Ground floor of the building measures 2,346 square feet and
it is currently vacant and immediately available for
occupancy. Space can be leased...

Rental Rate: $19.07

Space Available: 300-2,436 sf

Retail Space for Lease
New Orleans, Louisiana

Two historic downtown/CBD buildings at 127-131
Carondelet Street are being redeveloped into a multi-family
building with approximately 4,500 sf of...

No. Spaces: 1

Rental Rate: $24.00

Space Available: 1,400 - 4,500 sf

Bldg. Size: 4,500 sf

Retail Space for Lease
New Orleans, Louisiana

This space is perfect for retailers looking for a Magazine
Street address for their business. The demographics
surrounding this property are among...

No. Spaces: 1
Rental Rate: $20.50
Space Available: 1,748 sf
Bldg. Size: 6,236 sf

Retail Space for Lease
New Orleans, Louisiana

French Quarter Building Available for Lease- Live and Work
in the Quarter 321 Chartres is centrally located in the heart
of the French Quarter...

No. Spaces: 1

Rental Rate: $18.00

Space Available: 2,000 - 8,000 sf

Bldg. Size: 8,000 sf

147 | P a g e

CONCLUSIONS for World Trade Center' 100,000 sq. ft. of WORLD PLAZA LEVELS RETAIL
~ approximately 75,000 sq. ft. net rentable area ~

Based on the same economic trends in the market analysis, and based on the rental rates in the above properties,
which do not begin to compare with the traffic that will be generated in the World Plaza, and based on knowledge
of other retail in other cities (including the reputed and surprising new rates of approximately $300 per square foot
to be charged by Howard Hughes Company for tenants at Southstreet Seaport in New York City, as reported by the
New York Post ... admittedly very far away and in another world ... but interesting: people will pay what is asked IF
they get a good return) - we estimate a fair initial rental rate of $35 sq. ft. at the World Plaza, which will be
seamlessly connected to the Spanish Plaza.

Spanish Plaza itself- the current city-owned plaza and the city-leased restaurants there - should continue to be
reserved for only the existing corporate retail operations. The other activities at the Spanish Plaza should be:

• Each evening free New Orleans Jazz Concert

• Entertainers, licensed by the city, who will pay no fee, but who must show uniqueness of entertainment
(e.g., not just a singer or a poet) unlike what is usually seen and generally not able to be offered for
commercial entertainment value, say, at a club (e.g., a sword swallower, or a person who juggles odd items,
or a fire eater)

• Artists exhibiting their wares for sale to the public (not galleries or companies), with permits issued by the
city just as is done currently for Jackson Square (it could be the same operation by the city, expanded)

Retail at the World Plaza would not be "standard" mall fare. We particularly will be looking for local merchants
with the kind of products appropriate to our site, to either begin business or add a second location. Types of retail
could include such fares as:

• DINING: pretzels; ice cream, yogurt and gelato; cupcakes; coffee houses (hopefully, another Cafe du
Monde); candy shops; pubs from around the world; raw bars; rib houses; buffalo wings specialties

• ATTRACTIONS: a stage kitchen, possibly broadcast over TV, workshops taught by New Orleans' top chefs,
with audience behind glass seen from outside; a mirror maze; comedy club; olde tyme portraits; Jean
Lafite's pirate ship adventure and experience; "the Mighty Mississippi" sidewalk exploratory tour; authentic
representation of a long-ago Barnum & Bailey carousel; live and unique animals; a nightly laser show; once
a week fireworks show; dancing fountains at the Spanish Plaza fountain

• NIGHTLIFE: Danny O'Flaherty's Folk World; beach music; country music; Great Topics of the World (guest
speakers at a dinner theater)

• SHOPPING: unusual accessories; jewelry boutiques; T-shirt emporiums; swamp memories and souvenirs;
photographic remembrances of New Orleans and southern Louisiana; pet specialties; winery tastings;
healthy wearing products; music stores.

148 | P a g e

LEASING: COMPARABLE OFFICE SPACE IN CBD NEW ORLEANS

The World Trade Center building will have approximately:

100,800 SF office space for consulate offices: "Eyes on the World" (4 floors)
100,800 SF executive office space for commercial lease (4 floors)

3,000 SF executive office space to donated to WTC NO
204,600 SF

Office vacancy rates in New Orleans have seen a slight rise over the past three years, but the balance is set to shift.
The table below shows office occupancy in the city from 2007 through 2010.

New Orleans Office Occupanty

Dccup.ir ry

Rental Rates.

OctUpiflLv

PfOpffliM

Area

Reporting

Avjil aHt Space

Race

Change

RtTio-rEinij

Aikinf Rent

Change

i»T

xa

IS,99U*1

90S*

179

$ 157i

174

1S.S4M19

M.j

■;n.3; s

ISO

16.19

JjO ft

xm

310

16.^7*^11

87,5

t«

15.7?

II 61

2010

19.51! 711

87.J

(0.3)

1SS

tSJBS

03

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In September of 2011, Ochsner Health System announced plans to lease 80,000 square feet and bring up to 1,000
workers to Benson Tower, putting the building at over 90% occupancy. The former Hibernia Bank building is also
under renovation to become a mixed-use complex of residential, retail, and office space. The Plaza Tower, a fixture
of New Orleans' downtown skyline that has been vacant since Katrina, sold at auction in December of 2011; Plaza
Tower Development plans to transform the building into a mix of offices, condos, and shops. In June, the city is
scheduled to complete a $34.5-million extension of the Canal Street streetcar line along Loyola Boulevard adjacent
to the Plaza Tower, which is expected to spur further growth along the corridor.

Other developments include the $300-million expansion of the National World War II Museum, to be completed in
2015; a $30.5-million HUD grant to redevelop the Iberville Housing Project and an adjacent portion of the Canal
Street retail corridor; and the renovation and recent re-opening of the Joy Theater.

149 | P a g e

COMPARABLE CURRENT RATES FOR SIMILAR OFFICE SPACE IN NEW ORLEANS CBD:

Office for Lease - URS Building
New Orleans, Louisiana

There is parking available in the adjacent parking lot for
$170 per month per space. Suites 801 and 802 and 801 and
802 may be combined.
Rental Rate: $13.75 - $16.00
Space Available: 1,193 - 11, 759SF
Bldg. Size: 117,000 SF

Office for Lease - 1515 Poydras
New Orleans, Louisiana

1515 and 1555 Poydras are Class A office towers with

superior access and highly desirable amenities. The

combination of currently available high...

Rental Rate: $17.50

Space Available: 567 - 22,679 SF

Bldg. Size: 529,474 SF

Primary Type:

Office for Lease - Smith Lupo Center
New Orleans, Louisiana

Located in the West Lakeshore Shopping Center, the Smith
Lupo Center is conveniently located in the safe Lakeshore
community and offers many...
Rental Rate: $17.00
Space Available: 2,060 SF
Bldg. Size: 38,941 SF

Office for Lease - One Canal Place
New Orleans, Louisiana

One Canal Place is a 32-story office complex located at the

foot of Canal Street, in the heart of the Central Business &

Maritime Districts...

Rental Rate: Negotiable

Space Available: 641 - 80,000 SF

Bldg. Size: 650,000 SF

Office for Lease - K&B Plaza
New Orleans, Louisiana

Office Building or Contemporary Art Museum? Both exist

within the Class A confines of K&B Plaza. Unique and

inspiring office environment right...

Rental Rate: $18.50

Space Available: 2,500 - 10,501 SF

Bldg. Size: 70,000 SR

Office for Lease - 6600 Plaza Drive
New Orleans, Louisiana

Six Story Office Building. Space available from 2500sf to
1 8000sf Available May 2006 or sooner subject to utility
services.

Rental Rate: $15.00

Space Available: 2,000 - 60,000 SF

Bldg. Size: 120,000 SF

150 | P a g e

Office for Lease - 228 St. Charles Avenue
New Orleans, Louisiana

The landmark Whitney National Bank building. The best

location and value in downtown New Orleans.

Rental Rate: $15.50

Space Available: 500 - 7,500 SF

Bldg. Size: 447,744 SF

Office for Lease - 701 Loyola Tower
New Orleans, Louisiana

Fourteen (14) story office tower with secured lobby,
competitive rental rates, and Tl allowances available
depending on lease terms and rental...
Rental Rate: $11.00 - $13.50
Space Available: 266 - 18,723 SF
Bldg. Size: 286,560 SF

Office for Lease - First Bank and Trust Tower
New Orleans, Louisiana

The First Bank and Trust Tower is truly one of the finest
office assets in the New Orleans Central Business District.
Building amenities include...
Rental Rate: $18.00 - $18.25
Space Available: 2,453 - 13,163 SF
Bldg. Size: 45,476 SF

Office for Lease - 400 Poydras Tower
New Orleans, Louisiana

400 Poydras Tower is located in the heart of the action of
the New Orleans CBD at Magazine and Poydras. The
building boasts one of the best...
Rental Rate: $16.50 - $18.00
Space Available: 1 ,1 07 - 22,594 SF
Bldg. Size: 108,413 SF

Office for Lease - Poydras Center
New Orleans, Louisiana

650 Poydras was designed by Smallwood, Reynolds,
Stewart and Stewart design firm. An exterior skin of ribbed
precast panels with gray tinted...
Rental Rate: $17.75 - $18.00
Space Available: 544 - 5,134 SF
Bldg. Size: 45,043 SF

Office for Lease - Energy Centre
New Orleans, Louisiana

The Energy Centre is a thirty-nine story, 761 ,500 square
foot office building with 24,000 square feet floor plates.
Completed in 1984, the...
Rental Rate: $17.50 - $19.50
Space Available: 839 - 23,885 SF
Bldg. Size: 761,500 SF

Office for Lease - Pan American Building Sublease
New Orleans, Louisiana

Sublease space in the best building Downtown with 7 years
of term remaining. Gorgeous buildout completed in 2008.
Very attractive, modern...
Rental Rate: $15.00
Space Available: 12,673 S
Bldg. Size: 682,087 SF

Office for Lease - K&B Plaza
New Orleans, Louisiana

Abundant, secured covered parking, High quality finishes,
Food service, ATM machine, Car detail service, Sundry
shop, Copy center, On-site...
Rental Rate: $19.00
Space Available: 10,501 SF
Bldg. Size: 70,00 SF

151 | P a g e

Office for Lease - BENSON TOWER
New Orleans, Louisiana

Be a part in the rebirth of 1450 Poydras! spectacualr

renovation of New Orleans' Benson Tower. Next to the

world famous Louisiana Superdome home...

Rental Rate: $18.00

Space Available: 4,268 - 8,739 SF

Bldg. Size: 488,000 SF

Office for Lease - Pan American Life Center
New Orleans, Louisiana

Pan-American life Center is a granite-clad, Class A trophy

office tower located in the New Orleans Central Business

District. Pan-american Life...

Rental Rate: $18.50

Space Available: 2,125 - 58,084 SF

Bldg. Size: 673,000 SF

Office for Lease - Place St. Charles
New Orleans, Louisiana

Located in the heart of New Orleans financial district, Place
St. Charles is the premier office tower in the Central
Business District. With...
Rental Rate: N/A

Space Available: 1,151 - 24,633 SF
Bldg. Size: 79,539 SF

Office for Lease - Marine Building
New Orleans, Louisiana

6 story office building located renovated after Hurricanne
Katrina. Lots of parking provide in rear of building with
overflow lot; two elevators;...
Rental Rate: $15.00 - $15.50
Space Available: 400 -22,000 SF
Bldg. Size: 45,000 SF

Office for Lease - 1555 Poydras
New Orleans, Louisiana

1515 and 1555 Poydras are Class A office towers with

superior access and highly desirable amenities. The

combination of currently available high...

Rental Rate: $17.50

Space Available: 1,109-21,611 SF

Bldg. Size: 467,671 SF

Office for Lease - Poydras Center
New Orleans, Louisiana
1 4 Private Offices
Rental Rate: $13.50
Space Available: 9,081 SF
Bldg. Size: 453,255 SF

CONCLUSION

The office space offered at the World Trade Center will be among the best in New Orleans. Current upper
rates in the central business district range from $17.50 to $19.50. We plan to initially offer World Trade
Center office space for $18.00 per sq. ft.

152 | P a g e

LEASING: World Trade Center New Orleans

We will offer a ten-year, free lease of 3,000 sq. ft. of office space to the World Trade Center New Orleans. WTCNO
enhances the city, increases its tourism, builds its prestige, and adds to jobs in the city and parish. The offer is for
the lease to begin when their current lease shall expire. Rent will be free for ten years, and they will receive warm,
lit space, i.e., empty wall-to-wall, so that tenant build-out will be their responsibility. They will also be responsible
for their share of common area maintenance (CAM).

This will result in (3,000 sq. ft. X $18.00=) an annual donation in the equivalent of $54,000.

There is dedicated to the Eyes on the World, four floors, each approximately 25,200 sq. ft., for a total leasable
space of 100,800 sq. ft. at $18.00 per sq. ft. Because it will be impossible to lease this space to foreign embassies
until after the completion of the contract between ourselves and the city, after the design, and then approximately
a year to lease space, and another year to design and build. Therefore, the Eyes on the World will not open until
Year 4. When it opens, approximately 75% of the full space will be leased, with the remaining 25% the following
year.

LEASING: 100,800 net sq. ft. of EXECUTIVE OFFICE SPACE (4 floors)

Four floors will be available for commercial office lease, approximately 100,800 sq. ft. Lease rates will be $18 per
sq. ft. There will be a professional local leasing company handling these leases on the owners' behalf.

153 | P a g e

Attractions cost money in New Orleans, as elsewhere. Here are some of the tourism costs in New Orleans:

Grand Tour of Cajun Country $150.99

Steamboat Natchez Evening Jazz Cruise $67.99

Small-Group Airboat Ride & Plantation Tour $139.99

Swamp and Bayou Sightseeing Tour $48.99

New Orleans Hop-On Hop-Off City Tour $35.99

Small-Group Bayou Airboat Ride/bus from NO $99.99

City Tour & Steamboat Natchez Harbor Cruise $62.99

New Orleans Power Pass $69.99

Westbank Plantation tour $90.99

New Orleans French Quarter Segway Tour $65.00

Small-Group Tour: NO Past & Present $74.99

New Orleans Original Cocktail Walking Tour $28.99

Steamboat Natchez Harbor Cruise $24.99

New Orleans Cooking Class $23.99

Garden District Walking Tour $25.99

Post Hurricane Katrina Tour $69.99
New Orleans Cemetery & Voodoo Walking Tour $25.99

Small-Group LA Plantations Tour from NO $90.99

New Orleans Haunted Walking Tour $25.00

New Orleans City Bus Tour $42.99

French Quarter Walking Tour $24.99

New Orleans Big Easy Jazz tour $48.99

Jazz Brunch Buffet at Court of Two Sisters $32.00

Small-Group Architectural Tour of NO $74.99
Shore Excursion: Post-Cruise & Half Day Airboat $139.99

French Quarter MP3 Audio Walking Tour $10.99

Pirate History Walking Tour $26.99

National WWII Memorial $22.00

Audubon Park free

Preservation Hall free

Audubon Zoo $22.50

Mardi Gras World $19.95

Audubon Insectarium $16.50

Audubon Aquarium of the Americas $22.50

In order to begin easy, we intend to stay in the lower range of attractions and to charge a $10.00 entrance fee for
the Eyes on the World Tour of Nations.

154 | P a g e

DEVELOPMENT/CONSTRUCTION

Category

Year 1

Year 2

Year 3 *

Year 4

EXPENSES

HarH pn^tQ' nut hlrln 1

$1 cnn nnn
$ I ,ouu,uuu

1— IqkH prictc ■ ovtonor pnat
nalU OUolo. caLciIUi lAJcil

$2,000,000

III j. 1 1 1 OO

Hard costs: redo mchancls

$4,000,000

$4,000,000

ii i a i a i i n i i 44

Hard costs: Wrd Plz ground

$1,000,000

Hard costs: World Plaza ss

$1,000,000

$7,000,000

$6,500,000

Hard costs: all hotel 66

$30,000,000

$30,000,000

rt» t~\ — 7 j — r\ r\r\r\

$8,750,000

Hard costs: roof pools 77

$1,500,000

Hard costs: rooftop bars 88

$1,000,000

$3,000,000

$3,000,000

Hard costs: Eyes/World au

$2,000,000

$4,000,000

$4,000,000

Haed costs: residential 111

$440,000

$4,750,000

$4,750,000

$9,500,000

Hard costs: office ^

$2,080,000

$4,000,000

$4,000,000

Hard costs: special office

$750,000

$500,000

Hard costs: parking 444

$1,500,000

$1,250,000

$1,250,000

Hard costs: monument 13513

$1,000,000

$500,000

Hard costs: 4 retail bars bbb

$3,500,000

$2,500,000

Total Hard Construction

$12,440,000

$58,830,000

$58,000,000

$26,250,000

Other operating costs

$622,000

$2,941,500

$2,900,000

$1,312,500

Development fees aBa

$373,200

$1,764,900

$1,740,000

$787,500

Design by all firms aaa

$622,000

$2,941,500

$2,900,000

$1,312,500

One-Time pymt. To NOBC

$1,250,000

$1,250,000

$1,250,000

$1,250,000

Total Expenses

$15,307,200

$67,727,900

$66,790,000

$30,912,500

SOURCES OF FINANCING

Construction loan 1111

$108,442,560

Permanent Financing

$142,452,958

Equity a3aa

$18,073,760

Tax Credits 4444

$54,221 ,280

Total Revenue

$180,737,600

$0

$0

$142,452,958

$155,520,000
$7,776,000
$4,665,600
$7,776,000
$5,000,000

$180,737,600

* Year 3 of development/construction is Year 1 of limited operation.

155 | P a g e

$1,500,000 to gut the building, including removing all siding from first three floors. Construction costs are
estimated by Allen McDonnel, president of The McDonnel Group, who will be the general contractor on this
project, and who has decades of experience with such costs in New Orleans.

22 Exterior coating involves removing the slats from the exterior of the windows, cleaning and checking securing of
windows, cleaning and tightening and coloring concrete, and adding lighting.

33 Mechanical re-dos are the reconditioning and refurbishing of elevator cabs, motors and computers, plus the
motor on revolving restaurant and the escalators. These construction costs are estimated by Allen McDonnel,
president of The McDonnel Group, who will be the general contractor on this project, and who has decades of
experience with such costs in New Orleans.

44 Open up World Plaza by removing lower three floors of building exterior walls, creating hardscape up to and
including sidewalk on Convention Center Boulevard. This is the cost to connect the base/floor and tierring
necessarybring Spanish Plaza flooring throughout lower two floors of building and up to and including sidewalk on
Convention Center Boulevard.

55 Extensive recondition of World Plaza, with lush landscaping, shading, and possibly a large stage at the riverside
wing of the WTC building, 3rd floor overlooking Spanish Plaza fountain. Creation of retail environment for stores.

66 Hotel costs. Based on an HVS study for 2012, for luxury hotel rooms, less partial building & site
improvements, less partial soft costs, and less pre-opening capital, the general contractor has
estimated a building/furnishing cost of $125,000 per room, or $68,750,000.

77 Either on the rooftop on one wing of the building or on the third floor platform over the tracks will
be a lushly landscaped pool complex for hotel and residential guests. These construction costs are
estimated by Allen McDonnel, president of The McDonnel Group, who will be the general contractor on this
project, and who has decades of experience with such costs in New Orleans.

88 Top floor revolving bar/lounge, plus complete 30,000 sq. ft. restaurant/banquet floor below, plus outdoor roof
lounge/bar on one wing. These construction costs are estimated by Allen McDonnel, president of The McDonnel
Group, who will be the general contractor on this project, and who has experience with such costs in New Orleans.

99 Construction costs estimated at $100 sq. ft., exclusive of individual nations' showcase buildouts, which they will
pay for, using our design team and general contractor. This cost is just the finished open space ready for tenants.

111 Four floors of residential rental units. Finish two models (1BR and 2BR), and build others on build out based on
rental projections. 42 1BR/1BA models, 1,000 sf, cost $200 per sq. ft. to build out ($200,000 each) = $8,400,000 for
42 1BR units. 46 2BR/2BA units, 1,200 sf, cost $200 per sq. ft. to build out ($480,000 each) = $11,040,000 for 46 2BR
units. Total construction costs: $19,440,000. Information taken from Market analysis, above. For these upper end
units, we anticipate a three year buildup period.

156 | P a g e

222

Four floors of Class A office space: approximately 25,200 sq. ft. per floor, a total of 100,800 sq. ft. Construction

costs at $100 sq. ft., a total of $10,080,000. Tenant lease-out is estimated at four years.

333 3,000 sq. ft. office space, "warm lit space" - no interior walls or finishings; tenants to finish space. The executive
offices of the development company will occupy the remaining 3,500 sq. ft. of the same wing of Floor 3 as will be
occupied by the WTC, that wing closest to Convention Center Boulevard, and the executive offices will be finished
space. These construction costs are estimated by Allen McDonnel, president of The McDonnel Group, who will be
the general contractor on this project, and who has decades of experience with such costs in New Orleans.

444 Build parking garage - for purposes today we estimate to be a ground level entrance court and a spiral drive link
to the four parking floors in the WTC building (used for parking there). As noted, this could change after
negotiations with the city.

555 One large glass structure with huge video of history of New Orleans, and monument with inscription (see earlier
description in proposal). These construction costs are estimated by Allen McDonnel, president of The McDonnel
Group, who will be the general contractor on this project, and who has decades of experience with such costs in
New Orleans.

666 Retail bars are part of the anchor to the World Plaza. They will be unique and highly visible from outside the
bars themselves, with open windows to let the music out. Costs are estimated at $6,000,000.

777 Other Operating Costs include: Professional fees, Construction Management fees, Contingency, and Operating
costs @ 5% of $155,520,000, or $7,776,000.

888 Development fees: 3% of construction costs until conclusion of construction, or a total of $4,665,600.

999

Design includes all architecture, interior design, and landscape design. It includes both our design firm, WATG

and Perez. It is estimated at 5% of $155,520,000 construction costs, or $9,065,500.

mi

Construction loan in the amount of $108,442,560 will be taken out by permanent financing upon the issuance
of a certificate of occupancy by the city of New Orleans. The development/construction period financing will reflect
an accrued interest ofl0% for a period of four and a half years.

2222

PERMANENT LOAN in the amount of $142,452,958 at 7%, amortized over 20 years, both pays off the

construction loan (at 7%) and buys out the equity investor (at 20%).

This amount includes EQUITY PAYOFF : Year Yi expends $1,530,720 in equity principle + 20% accrued interest Yi year
= $1,683,729. Year 2 expends $6,772,790 in equity principle plus last year's carried amount of $1,683,729, or
$8,456,582 plus 20% interest 2 for year = $10,147,898. Year 3 expends $6,679,000 in equity principle plus last year's
carried amount of $10,147,898, or $16,826,898 plus 20% interest for year 3 = $20,192,278 LESS $5,000,000 equity
curtailment made at the end of year 3 ... bringing forward $15,192,278. Year 4 expends $3,091,250 in equity
principle plus last year's carried amount of $15,192,278, or $18,283,528 plus 20% interest for year 4 = $21,940,234
LESS an additional $7,000,000 equity curtailment made at the end of year 4 ... bringing forward $14,940,234 to be
wrapped into the permanent loan.

157 | P a g e

The CONSTRUCTION LOAN PAYOFF is similarly calculated: Year Vi expends $9,184,320 (60% of Year l's total
expenditures of $15,307,200) in construction loan principle + 7% accrued interest Vi year = $9,827,222. Year 2
expends $40,636,740 (60% of Year 2's total expenditures of $67,727,900)in construction loan principle plus last
year's carried amount of $9,827,222, or $50,463,962 plus 7% interest 2 for year = $53,996,439. Year 3 expends
$40,074,000 (60% of Year 3's total expenditures of $66,790,000)in construction loan principle plus last year's
carried amount of $53,966,439, or $94,040,439 plus 7% interest for year 3 = $100,623,270. Year 4 expends
$18,547,500 (60% of Year 4's total expenditures of $30,912,500) in construction loan principle plus last year's
carried amount of $100,623,270, or $18,283,528 plus 7% interest for year 4 ... bringing forward $127,512,724 to be
wrapped into the permanent loan.

The permanent loan is the sum of the construction loan payoff of $127,512,724 and the equity investment buy
out of $14,940,234: $142,452,958.

Monthly payment on the permanent loan will be $1,104,436 per month, or $13,253,235 per year.

3333 Equity is 10% of total costs.

4444 Tax Credits estimated at 40% of costs. However, legal and other preparation, plus discount at sale may bring
the net down as much as 10%, so we are estimating a conservative net of 30%.

158 | P a g e

OPERATIONAL PHASE OF WORLD TRADE CENTER REDEVELOPMENT

Revenue

% of yr yr
Rev. 1 2

year 3

year 4

year 5

Hotel 1

-

26,699,750

30,112,500

34,529,000

Hotel Restaurants/Banquets 2

-

3,285,000

3,449,250

3,621,713

Hotel Bars 2

-

3,285,000

3,449,250

3,621,713

3

Residential leases

1,138,800

2,479,200

2,603,160

Parking 4

1,000,000

1,000,000

1,000,000

Plaza Retail 5

2,362,500

2,362,500

2,362,500

Office Leases 6

1,814,400

2,721,600

Eyes on World Admissions 7

4,500,000

4,500,000

37,771,050

49,167,100

54,959,685

Expenses

Hotel 1

80% -

21,359,800

24,090,000

27,623,200

Hotel Restaurants/Banquets 2

80% -

2,628,000

2,759,400

2,897,370

Hotel Bars 2

75% -

2,463,750

2,586,938

2,716,284

Residential leases 3

15% -

170,820

371,880

390,474

Parking 4

35% -

350,000

350,000

350,000

Plaza Retail 5

65% -

1,535,625

1,535,625

1,535,625

Office Leases

35% -

635,040

952,560

Eyes on World Admissions 7

30% -

1,350,000

1,350,000

Lease Payment to NOLA 8

1,500,000

Replacement Reserve @ 4% 9

1,966,684

2,198,387

Bldg Mngt Fee @ 3% 10

1,133,132

1,475,013

1,648,791

29,641,127

37,120,580

43,162,691

Profit before Int/Dep Exp

8,129,924

12,046,521

11,796,994

159 | P a g e

Profit before Int/Dep Exp

8,129,924

12,046,521

11,796,994

Permanent Mortgage pymt. @ 7%

13,253,235

Profit after mortgage payments

$8,129,924

$12,046,521

-$1,456,241

Tax @30%

2,438,977

3,613,956

-$436,872

Equity Curtailments

5,000,000

7,000,000

Net After Tax

690,946

1,432,564

-$1,019,369

Depreciation Expense (39 yr SL)

5,128,205

5,128,205

5,128,205

160 | P a g e

OPERATIONAL PHASE OF WORLD TRADE CENTER REDEVELOPMENT

Revenue

year 6

year 7

year 8

year 9

year 10

Hotel 1

38,393,438

40,313,110

42,328,765

44,445,204

46,667,464

Hotel Restaurants/Banquets 2

3,802,798

3,992,938

4,192,585

4,402,214

4,622,325

Hotel Bars 2

3,802,798

3,992,938

4,192,585

4,402,214

4,622,325

Residential leases 3

2,733,318

4,099,977

6,149,966

9,224,948

13,837,422

Parking 4

1,050,000

1,102,500

1,157,625

1,215,506

1,276,282

Plaza Retail 5

2,362,500

2,362,500

2,480,625

2,480,625

2,480,625

Office Leases 6

Eyes on World Admissions 7

3,265,920
4,500,000

3,265,920
4,500,000

3,265,920
6,775,000

3,807,216
6,775,000

3,807,216
6,775,000

59,910,772

63,629,883

70,543,071

76,752,928

84,088,659

Expenses

Hotel 1

30,714,750

32,250,488

33,863,012

35,556,163

37,333,971

Hotel Restaurants/Banquets 2

3,042,239

3,194,350

3,354,068

3,521,771

3,697,860

Hotel Bars 2

2,852,099

2,994,704

3,144,439

3,301,661

3,466,744

Residential leases 3

409,998

614,997

922,495

1,383,742

2,075,613

Parking 4

367,500

385,875

405,169

425,427

446,699

Plaza Retail 5

1,535,625

1,535,625

1,612,406

1,612,406

1,612,406

Office Leases 6

1,143,072

1,143,072

1,143,072

1,332,526

1,332,526

Eyes on World Admissions 7

1,350,000

1,350,000

2,032,500

2,032,500

2,032,500

Lease Payment to NOLA 8

1,500,000

1,500,000

1,500,000

1,500,000

1,500,000

Replacement Reserve @ 4% 9

2,396,431

2,545,195

2,821,723

3,070,117

3,363,546

Bldg Mngt Fee @ 3% 10

1,797,323

1,908,896

2,116,292

2,302,588

2,522,660

47,109,036

49,423,202

52,915,176

56,038,901

59,384,525

Profit before Int/Dep Exp

12,801,736

14,206,681

17,627,895

20,714,026

24,704,134

161 | P a g e

Profit before Int/Dep Exp

12,801,736

14,206,681

17,627,895

20,714,026

24,704,134

Permanent Mortgage pymt. @ 7%

2222

13,253,235

13,253,235

13,253,235

13,253,235

13,253,235

Profit after mortgage payments

-$451,499

$953,446

$4,374,660

$7,460,791

$11,450,899

Tax @30%

286,034

1,312,398

2,238,237

3,435,270

Net After Tax

-$451,499

667,412

3,062,262

5,222,554

8,015,629

Deprect.Exp. (39 yr)

5,128,205

5,128,205

5,128,205

5,128,205

5,128,205

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Notes to the 10 year Revenue / Expenses Spreadsheet:

1 LUXURY HOTEL : 550 rooms, est. 500 sq. ft. each, including lobby, public spaces meeting rooms. Based on an HVS
study for 2012, for luxury hotel rooms, less partial building & site improvements, less partial soft costs, and less pre-
opening capital, the general contractor has estimated a building/furnishing cost of $150,000 per room, or
$82,500,000.

RATES: Assume a conservative seasoned rate of $225, with a first (operational) year (third actual year) rate of
$190, a second year rate of $200, a third year rate of $215, and a fourth/established year rate of $225 for our

luxury hotel room rate. We assume rates will rise thereafter at 5% annually.

We assume expenses are 80% of income, which includes the contract with a hotel management firm.

OCCUPANCY: Based on the facts noted above and on the assumption of both compelling marketing for the hotel
and much free publicity deriving from the noteworthiness of this grand development, we will assume a 4 year
buildup period for the hotel, with first year occupancy at 70%, second year occupancy at 75%, third year
occupancy at 80%, fourth year occupancy at 85%, and established thereafter at that 85%.

This, then, based on these assumptions, will produce income as shown on the following chart. And we estimate the
cost of operations at the hotel at 82.5% of gross income, a standard industry number.

PRELIMINARY INCOME PROJECTIONS
LUXURY HOTEL AT WORLD TRADE CENTER

Year

#

roo
ms

rate

occupancy

daily gross

annual gross

3

550

$190

70%

$ 73,150

$ 26,699,750

4

550

$200

75%

$ 82,500

$30,112,500

5

550

$215

80%

$ 94,600

$ 34,529,000

6/established

550

$225

85%

$105,188

$ 38,393,438

2 RESTAURANTS & BARS : Estimate 300 guests per day year 1 and 2, each spending $30 per meal = $3,285,000
gross per year first year, increasing by 5% per year thereafter. Estimate 400 revolving bar patrons per day year 1,
each spending $22.50 per visit = $3,285,000 gross per year first year, increasing by 5% per year thereafter.

Estimate restaurant costs at 80% of gross. Estimate bar costs at 75% of gross. Estimate restaurant and bar costs to
rise 5% per year after establishment.

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3 RESIDENTAL RENTAL INCOME is based on the following chart from the marketing analysis above, with no rent
raised for the period shown. Rental lease income is expected to rise by 5% after establishment.

Residential rental expenses are estimated at 15%, including management contract company, maintenance,
marketing and commissions. Residential rental expenses are expected to rise by 3% after establishment.

PRELIMINARY INCOME PROJECTIONS

LUXURY RESIDENTIAL RENTALS - WORLD TRADE CENTER

year # units price/mo. % rented/cuml. # rented/cuml. rental

income/

income/yr

1

42 1BR

$2,000

50%

21

$ 504,000

23 2BR

$2,300

23

$ 634,800

42 1BR

$2,250

95%

40

$1,080,000

23 2BR

$2,650

44

$1,399,200

4 PARKING : This is a completely unknown quantity. We simply pick the number the World Trade Center personnel
told us: when they had control of the parking garage built for this WTC building, they leased it to Hilton Hotel, got
free parking for their own employees and other guests to the WTC building, and still made $1 million per year. It is
not the best number ... but since there is no number possible, it is the best we have: $1 million per year. Staffing
costs to park cars 35%. Income increases by 5% after year 5, and expenses increase by 4% after year 5.

5 PLAZA RETAIL LEASES will be at the rate of $35 sq. ft. for 75,000 sq. ft. of net space. Increases 5% each five
years. Retail expenses are calculated at 65% of income. Occupancy estimated at 90%.

6 OFFICE LEASES : Eyes on the World consulate leases: 100,800 sq. ft. at $18.00 per sq. ft. plus an additional four
floors of Class A office leases (100,800 sq. ft.) at $18.00 sq. ft. 201,600 sq. ft. of leased space @ $18.00 sq. ft. =
$3,628,800 annually when fully leased. We anticipate leasing 0% of the space the first year, 50% the second year,
75% the third year, and 90% the fourth and subsequent years. Rents to increase each 5 years by 5%. Expenses at
35% of revenue.

Four floors office space, extensively designed with nations of the world each building their own national exhibit, 4
floors, approximately 40 exhibits per floor, depending on size of the nation and what they choose to rent, with
development company finishing interiors and central (to each wing, 4 per floor) lounge/stage areas. An additional
four floors of office space for lease to commercial companies. The construction costs are what the development
company estimates it will spend on limited interior finishings, with final architecture (by our architect) and
construction (by our construction contractor) paid by the leasing nation. These costs are estimated by Allen
McDonnel, president of The McDonnel Group, who will be the general contractor on this project, and who has

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decades of experience with such costs in New Orleans.

7 EYES ON THE WORLD ADMISSION FEES : Tourism brings in 9 million visitors to New Orleans each year. It is
anticipated that at least half of those, 4,500,000 will be in this vortex of visitors that will be this business and retail
site, and will visit the World Trade Center, and that only 10% of those will tour the Eyes on the World, or 450,000
visitors per year. We will not begin this Tour of the Nations until the Eyes on the World is fully (95%) leased and
operational, thus estimating the second year after the World Trade Center redevelopment will have opened. Fees
will be $10 per person. Because 60% of the tourists coming to New Orleans make under $100,000 per year, a
lower price attraction will attract greater numbers of attendees.

Getting the embassies to open consulates is slower than normal leasing, so this entity will not open until the second
year of operation of the World Trade Center building.

The cost is estimated at 30% of the income from admittance fees, and covers staffing, ticket sales, marketing and
advertising, maintenance, management contract, reserve for remodeling.

LEASE PAYMENTS TO NOLA : $1,250,000 per year, for four years, is our offered lease payment to the city of New
Orleans.

9 Buildings wear out and begin to look worn. They need to be remodeled each 10 to 12 years. We set aside a 4%
REPLACEMENT RESERVE each year for this remodeling of the facility and its parts.

10 BUILDING MANAGEMENT FEE : 3% of revenue, but not the hotel which will be under separate management .

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3. Proposed Financing and Financing Sources and Uses

James H. Burch LLC has secured the preliminary commitment for equity and construction loan, contingent upon
satisfactory negotiations with NOBC, as specified in the RFP, for the equity needed and the construction loan
amount needed for redevelopment of the World Trade Center building and site. Through our construction
manager/owner rep company, whose many other buildings have been financed through Columbia National of
Columbia, Maryland, this financing company has pledged to work with us, and has made themselves available at
this point.

We intend to secure equity cash from Columbia National equal to ten percent (10%) of the funds necessary - at this
time estimated to be $18,073,760, and we intend to have them arrange the construction loan currently estimated
to be $1 08,442,560 and the permanent financing mortgage currently estimated to be $$171,921,458 through
Columbia National. They have $6 billion in arranged loans at this time.

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Sources of Construction Financing

Source

Percent

Amount

Tax Credits

30% (net)

$ 54,221,280

Equity

10%

$ 18,073,760

Construction Loan

60%

$108,442,560

Total

1 00%

$180,737,600

Amortization of Principal Financing

Loan Amount

$142,452,958

Number of Payments

240

Annual Interest Rate

7%

Monthly Payment

$1,104,436

First Year Totals

$13,253,235

Federal Historic Preservation Tax Credit {FHTC) and Deductions

A 20% federal income tax credit is potentially available for the rehabilitation of historic, income- producing
buildings that are determined by the U. S. Secretary of the Interior, through the National Park Service, to be
"certified historic structures" or as contributing to a future federal historic district. This process is expected to
take from six months to one year to accomplish. This subject building was constructed from 1963 to 1967. It is
approximately 850,000 square feetofspace.

Approximately $193,070,266 in costs is estimated at this time, prior to final negotiations with NOBC
and thus prior to final details, could potentially qualify as "qualified rehabilitation expenditures," and
therefore be eligible for the 20% Federal Historic Renovation Tax Credit. This would be $38,614,053. At an
estimated gross sales price of $0.96/$1.00 in tax credits, the net benefit from this federal tax credit is projected
to be approximately $35,524,929. This amount should beableto be monetized at the Closing of the Project,
utilizing available tax credit bridge loan financing.

In addition, a federal income tax deduction may be available for the creation and donation to an eligible
nonprofit entity of a historic preservation easement to permanently protect this existing historic property and to
limit future development of the Project site. Because this property would remain in public ownership, yet the
improvements be allowable as deductions for our non-public entity, there remains some speculation about this
particular deduction. Thus, this potential Federal income tax deduction has not been included as a source of

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funding for this development that would be availableat Closing.
State Historic Preservation Tax Credit (SHTC) and Deductions

A 25% state income tax credit is currently available for the rehabilitation of historic, income-producing buildings
that are determined by the State Historic Preservation Office (SHPO) to be "certified historic structures" within a
state cultural district. As mentioned above, the World Trade Center building was constructed from 1963 to
1967 and totals approximately 850,000 gross square feet of space. $19,307,026 of the Project's renovation
costs should qualify as "qualified rehabilitation expenditures," and therefore be eligible for the 25% State
Historic Renovation Tax Credit, or $19,307,026. At an estimated gross sales price of $0.80/$1.00 in tax credits,
the net benefit from this state tax credit is projected to be approximately $15,445,621. This amount should be
able to be monetized at the Closing of the Project, utilizing available taxcredit bridge loanfinancing.

In addition, a state income tax deduction potentially may be available for the creation and donation to an
eligible nonprofit entity of a historic preservation easement to permanently protect this existing historic property
and to limit future development of the Project site. Because this property would remain in public ownership, yet
the improvements be allowable as deductions for our non-public entity, there remains some speculation about this
particular deduction. Thus, this potential Federal income tax deduction has not been included as a source of
funding for this development that would be availableat Closing.

Other Available Tax Credits

There are a myriad of other tax credits available for this site, all depending upon what final plans will be and
upon which will apply, not to the owner (the city being a public entity) but to the owner of the improvements
(our private entity). Although we list many of them below as worthy of later consideration and study, we have
selected not to speculate on those many available tax credits at this stage, but rather to simply estimate a
lump sum of approximately $10,000,000. We recognize that this will, without a doubt change, but we feel
that at this point it is satisfactory to be able to ascertain the basic structure within which the financial details
will unroll. It is sufficient for the developer's financial planning and commitments at this stage.

Federal Solar Energy Investment Tax Credit (FITC)

A 30% federal solar energy tax credit is currently available with respect to solar electric photovoltaic systems
equipment and installation expenses, provided that these expenditures are made prior to the current "sunset
date" of December 31, 2036. Because final plans for the rehabilitation of this building have not yet been
drawn, this potential tax credit has not been estimated as a part of the financing of this building. It will
certainly be considered as design plans are created and completed.

State Solar Investment Tax Credit

A 50% state solar energy tax credit is currently available with respect to theyet-to-be-determined expensesfor
solarelectricphotovoltaicsystems equipment and installation expenses that are applicable to residential
housing planned for the Project. Because final plans for the rehabilitation of this building have not yet been
drawn, this potential tax credit has not been estimated as a part of the financing of this building. It will
certainly be considered as design plans are created and completed.

Commercial Building Tax Deduction

The Energy Policy Act of 2005 included a new tax incentive to improve the energy efficiency of commercial
buildings. The "Commercial Building Tax Deduction" establishes a tax deduction for expenses incurred for energy
efficient building expenditures made by a building owner. The deduction is limited to $1.80 per square foot of the
property, with allowances for partial deductions for improvements in interior lighting, HVAC and hot water systems,

168 | P a g e

and building envelope systems.

Technology Commercialization Credit and Jobs Program

Eyes on the World will have innovative computer interactive desks like no other. The technology will have to be
developed specifically for this task. The technology commercialization credit offers tax credits to encourage
Louisiana businesses to commercialize research conducted at Louisiana universities and to promote job creation.
For commercializing technology -"development of a technology into a commercial product by going through the
process of prototyping, securing funding, and other steps necessary to get the final product to the marketplace"-
an individual or business may earn a credit on any income or corporation franchise tax liability equal to 40 percent
of an investment up to $250,000 in commercialization costs for a business location. Credit may be carried forward
for up to 20 years. The firm may also earn an additional refundable 6% gross payroll tax credit based on new jobs
created and other requirements. Credit on new jobs created may be earned up to five years. It is renewable for an
additional five years if the taxpayer demonstrates that they meet all the requirements in the past five years. The
program requires an agreement with a Louisiana regionally accredited college, technical school, university, or a
research company to commercialize or research a technology.

New Market Tax Credit

The New Market Tax Credit program encourages investment in urban and rural low-income areas to help finance
community development projects, stimulate economic growth and create jobs. Private-sector investors receive
credit against federal income taxes. The program allows individual and corporate taxpayers to receive a credit
against federal income taxes for making qualified equity investments in Community Development Entities, or CDEs.
Credits can be obtained every year the investment is held, for up to seven years of the credit period.

Benefits

Equity investments in low- to moderate-income areas may qualify for a 39% federal tax credit available through a
special federal allocation for the Louisiana Gulf Opportunity Zone. Qualifying projects may leverage the federal
program through an additional 25% state tax credit (64% total credit). May be used as equity for debt financing.

Louisiana Foreign Trade Zones

Because goods and products may enter into the Eyes of the World for show and/or sale, it may be wise to apply for
those four floors to become a Foreign Trade Zone or an extension of an existing Foreign Trade Zone. Louisiana's six
Foreign Trade Zones make it possible to import materials and components into the U.S. without paying duties until
they enter into the U.S. market. Goods shipped directly out of the country from FTZs are duty-free.

Summary of Current Available Tax Credits

At the present time, the developer is considering only the discounted Federal Historic Preservation Tax Credit
{FHTC) and Deduction of $35,524,929 and the discounted State Historic Preservation Tax Credit (SHTC) and
Deduction of $15,445,621 as applicable to its project at this stage, for a total of $50,970,550. Adding the
generalized lump sum of an additional estimated $10,000,000 available in the future from other potential tax
credits, we arrive at estimated tax credits of $60,970,550. Deducting at estimated $3,000,000 if professional fees to
obtain these tax credits gives a resulting net of $57,970,550. In its projections, the developer has chosen to
estimate a clean 40% tax credit, or $ 57,921,080.

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4. Detail of all Direct and Indirect Economic Benefits to NOBC and the City

Direct Economic Benefits to NOBC and the City

We offer to pay NOBC Five Million Dollars ($5,000,000), $1,250,000 for each of the four years of construction,

during the design and construction phase or our development, more than doubling the amount expended by the
city to buy out the World Trade Center New Orleans from its lease on the building several years ago.

During the Pre-Construction and Construction Period, Direct Tax Income is expected to be:

State and Local Tax Impact of Construction

Tax Source

Revenue

State Taxes:

Income

$2,310,000

Selective Sales

$1,580,000

General Sales

$2,280,000

Business

$970,000

Total State

$7,140,000

Local Taxes:

Local Sales Taxes

$3,570,000

Local Property Taxes

$-

Total Local

$3,570,000

State Plus Local

$10,710,000

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Indirect Economic Benefits to NOBC and the City

The City of New Orleans has taken a wise step in offering the World Trade Center building and site as a
Request for Proposal, in order to gather the best ideas possible for this most visible and potentially
anchoring site in the region. Situated as it is at the confluence of the city's main artery, the Mississippi
River and the heart of the city's historic, business, tourism and activity center, it presents a magnificent
opportunity to make a statement to the city, the state, the nation and the world about the beauty and the
capabilities of the people of this region. The purpose of this report is to estimate the economic impact of
the proposed redevelopment of the World Trade Center building and site, presented by James H. Burch LLC,
on the New Orleans economy. Although the proposed development will be broad in scope, this report will
only estimate the new economic activity created by the project.

The components of the project include:

The creation of a luxury hotel, restaurants and meeting rooms at the site of the best views
and dead center of New Orleans' activity

The creation of a revolving rooftop lounge /bar + meeting rooms/banquet rooms + special
event facility that will be unique and attract visitors because of its special situation
The creation of "Eyes on the World" - a site of exhibits of nations from all over the world, both
for business and tourism, and also as a tourist attraction new to the New Orleans region
The return of the World Trade Center New Orleans to its traditional home, where the 300+
present World Trade Centers of the world originated

The creation of luxury rental units to accommodate some of the thousands of new healthy-
income residents who will be coming to New Orleans as a result of medical and other
developments ongoing

The creation of World Plaza retail to extend to Spanish Plaza which will link the activity of
the city to the Mississippi River waterfront plaza in an invigorated and powerful new tourist
draw that thrills visitors and gives new reasons for longer stays and more expenditure of
monies

The clear and visible statement of the character of New Orleans and its people, in large video
presentation and in monumental statement of purpose

During the CONSTRUCTION PHASE of the project, based on only preliminary
projections prior to negotiations with the NOBC, approximately $175.7 million
will be spent directly in the New Orleans economy. Using standard factors, that
direct spending will produce $160.22 million in secondary spending for a total
impact of $335.96 million. During the construction phase, the proposed project
will support, either wholly or in part, a total of 3,586 jobs in the area, creating
$129-63 million in income for residents of the area. In the construction phase of
the project, the State of Louisiana will collect an additional $7.14 million and
local governments in New Orleans will collect an additional $3.75 million for a
total of $10.71 million of new revenue for state and local governments.

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And

Once the FULL DEVELOPMENT of the World Trade Center is STABILIZED and is
fully operational, it will create new direct spending in the New Orleans economy
of $71.7 million annually. That direct spending will create $57.91 million in
secondary spending for a total impact of $129.61 million annually in the City's
economy. The operations of the World Trade Center site, once they are fully
operational, will create $131.29 million annually in earnings for 3,632 new jobs
created in the community. Once the redeveloped World Trade Center site is
completely stabilized, it will produce $13.01 million annually in tax revenue for
the State of Louisiana. Local governments, including the City of New Orleans, the
Orleans Parish School Board, and a host of other local government entities in the
City will receive $11.76 million annually in new revenue. Finally, the proposed
project will generate $4.63 million annually in new tax revenue for the City of
New Orleans general fund.

Preliminary Impact of the Economic Impact

of the Proposed World Trade Center Site Redevelopment

CateRorv

Construction Phase

Stabilized Year

New Direct Spending

$175,737,600

$71,700,000

New Secondary Spending

$160,220,000

$57,910,000

New Total Spending *

$335,960,000

$129,610,000

New Jobs Created

3,586

3,632

New Earnings Created *

$129,630,000

$131,290,000

New State Tax Revenue

$ 7,140,000

$ 13,010,000

New Local Tax Revenue

$ 3,750,000

$11,760,000

New State and Local Tax Rvn. *

$ 10,710,000

$24,770,000

New funds into local economy *

$476,300,000

$285,670,000

$285.67 million injected into the local economy each year, equals over

$28 trillion into the New Orleans/Orleans Parish economy over the lease.

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The following items below are not conditions precedent to our bid proposal - they are not "deal-breakers. Rather
the suggestions are presented as outside the "box" thinking that would make a much better waterfront, a much
better site. We are hopeful the city will work with us on these ideas. If the city is unable or alternatively chooses
not to do these, our bid stands. Our confidence of success is solid with our proposal.

(A) We ask the city to join with us and the Hilton Riverside Hotel management to negotiate a new lease on the
parking garage which was originally built for parking for the World Trade Center building and is now leased to
Hilton. We ask that Hilton and the World Trade Center building have joint use of the parking, and that the lease be
rewritten to extend to the end of the lease on the World Trade Center building. Financial terms and conditions
could be worked out during the four month period after the RFP Award date.

(B) We ask that the city allow us to build approximately 22 feet above the railroad/streetcar tracks adjacent to
the World Trade Center building on this WTC site, and to each side adjacent to it, so that we might thereby extend
the feel and use of the Spanish Plaza, and might also provide safer crossing of the tracks by pedestrians. We solicit
the city, along with the developer for joint-cooperation with any agencies who have jurisdiction over the railroad
tracks, streetcar tracks, and air rights above, to construct platform floors over the railroad and streetcar tracks on
the subject property.

(C) We ask that the city expedite permitting and approvals on a fast track basis, so that upon signed lease
agreement we can immediately begin gutting the building, cleaning the exterior, begin renovation of the
mechanical components, and begin expansion and renovation of the Plaza. The Fast Track approach will allow the
city and the developer to accomplish our mutual goal that this new public space be ready and operational for the
city's Tricentennial.

(D) The city will remain the owner of the property. Therefore, together with the developer/contract holder, we
ask that the city execute documents required, along with the developer/contract holder to apply for and pass to the
developer/lease holder all federal and state tax credits that will be approved and no expense to the city. The
owner of the property requesting tax credits has to be applicant. THE developer/lease holder would technically
sign with the city, who would ASSIGN ALL TAX BENEFITS/TAX CREDITS, BOTH FEDERAL, STATE, AND LOCAL TO the
developer/lease holder.

(E) We RECOMMEND that the city CONSIDER moving the ferry terminal operation away from the foot of Canal
Street to some other location. This is a central commercial pedestrian location - a primary focus of the city. To
have an industrial use here is outdated for highest and best use of the land. To direct such abundance of
unnecessary traffic to this point is perhaps not the best commercial use for the site. We ask that - if the city does
move the ferry terminal operation to another location - the buildings and dock be left behind untouched, and we
would like the opportunity to incorporate them into our overall development plans for the site ... subject, of course,
to an acceptable plan for the city including ultimate negotiation and contract for both sites.

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(F) We are compelled to ask the city to WARRANT IN THE LEASE AGREEMENT that no building of any sort be
allowed to be erected in the Spanish Plaza on land from the WTC site to the waterfront .

The RFP issued by the NOBC on January 3, 2013 listed nine goals, required of the Respondents and stated that a
substantial part of the award would be based on how the Respondents addressed these city requirements. Three of
those goals had to do with the RFP site's relationship with the Spanish Plaza: "4. Transform the site by creating a
demand generator to the Riverfront, its enjoyment and use. 5. Improve the pedestrian transition from the French
Quarter and Central Business District to the site and river and enhance the riverfront view from Canal Street. 6.
Create a coherent, unified environment through integration of adjacent land uses and spaces."

Thus, the city was asking us as a respondent/developer to be willing to spend, in our case, up to $200 million in
investment at this site, clearly tied to the Spanish Plaza - and yet the city, after email request, did not provide
information that the Spanish Plaza IS CURRENTLY UNDER GROUND LEASE TO ANOTHER MAJOR COMMERCIAL
ENTITY. That commercial entity may have goals different than ours, and may, after we expend up to $200 million at
this site, decide to build or engage in their own commercial activities at Spanish Plaza, which would then derive
great benefit from our investment at no cost to them.

A valid concern came from our financial consultants is that not three months after this RFP was issued, asking
respondents to spend money and time to submit proposals to DO SOMETHING with the WTC building, a bill was
introduced in the Louisiana legislature in early April 2013 to authorize the issuance and sale of public bonds to
obtain twenty five million dollars ($25,000,000) to RAZE THE WTC BUILDING and AN ADDITIONAL TWENTY-FIVE
MILLION DOLLARS ($25,000,000) to build a park there. We recognized at once that the city had thought a lot about
this site, and has assured its citizens a Win-Win situation in any event. If you didn't have our proposal, you might
have to think about reverting to a tear-down; but WITH ours you have a brighter option.

Such legislation surely had to have been discussed within the city before it would be introduced at the state level in
Baton Rouge. OUR RFP APPLICATON PROPOSAL HAS INCURRED OVER TWO HUNDRED AND FIFTY THOUSAND
DOLLARS ($250,000) with professional consultants, legal, accounting, and tax considerations, hotel management
discussions with four national flags, and other expert work. An extraordinary number of hours of talented
manpower diverted from other profit-making endeavor has created this proposal, which we believe speaks for
itself. We trust that you will see that our submittal shows extraordinary vision to bring the WTC into the 21 st
century, and provide great benefits for the people of New Orleans.

Without this BUILDING RESTRICTION ON THE LAND FROM WTC TO THE WATERFRONT AND SURROUNDING THE
WTC (SPANISH PLAZA) OUR FINANCIAL LENDER (or ANY financial lender) WOULD BECOME HESITANT TO COMMIT
ON THE SIGNING OF A 99 YEARS LEASE WITH THE FINANCIAL GUARANTEES THAT ARE REQUIRED BY THE CITY.

OVER THE PERIOD OF THE LEASE TERM THE CITY WILL RECEIVE APPROXIMATELY ONE HUNDRED AND FIFTY
MILLION DOLLARS ($150,000,000). NOT A BAD ALTERNATIVE TO SPENDING FIFTY MILLION DOLLARS ($50,000,000)
OF BONDHOLDERS/TAXPAYERS MONEY TO TEAR DOWN AND HAVE A PARK WHEN YOU SEE WHAT OUR PROJECT IS
GOING TO PROVIDE TO THE CITY! However, it is clear that the city must be commended for its innovative thinking
in having the request for Fifty Million Dollars ($50,000,000) submitted to Baton Rouge for the alternative of tearing
down the WTC building and rebuilding a park. You indeed do have a Win-Win situation. If our proposal is chosen,
there will be substantial financial benefits, more tourism and a more dynamic set of city options. If there is no
acceptable RFP submission, the city is timely on its application for bond approval from the state.

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Other Requirements

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176 I P a g e

The $50,000 check submitted with this proposal in response to the RFP is enclosed with our letter of introduction.
(Copy below)

177 | P a g e

On the following pages are copies of forms required to be submitted with this RFP. Originals of these forms are
enclosed with the letter to the Purchasing Department which accompanies and introduces this proposal package.

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CONFLICT OF INTEREST DISCLOSURE AFFIDAVIT

State of Louisiana Wi^w/rv

PAjHSH OF fAt RT^f

Before me. the undersigned authority, came and appeared_
_. who. being first duly sworn, deposed and said that:

He/Sfee is the /M+Hfcaiofr&ntfdC and authorized representative of. <JAt*£S H .BuftCH LLC

_. hereafter called "Respondent.""

2. The Respondent submits the attached proposal in response to Citv of New Orleans Proposal

* 4o&-oMiy .

3. The Respondent hereby confirms that a conflict(s) of interest -wriste'does not exist 'may wt «t
in connection with this solicitation which might impair Respondent's ability to perform if
awarded the contract, including any familial or business relationships that the Respondent, the
proposed subcontractors, and their principals have with city officials or employees. (If a
conflict(s) of interest exists and/or may exist, describe in a letter the nature of the conflict, the
parties involved and why there is a conflict. Attach said letter to this form).

ndent Representative (Signature)
(Print or type name)
(Address)

Sworn to and subscribed before me. €^l3E j-g^gfi lotary Public, this \ jj day of Aj"cM .
20\5.

Notafy Public (sjgnaiui?
Notary 1D#/Bar Roll # ^1 1 1 :

RFP No. 4051-01414

Page 9

CITY OF NEW ORLEANS
TAX CLEARANCE AUTHORIZATION

According to Section 2-8 of the Code of the City of New Orleans. Louisiana 1995, the City may not enter into or make payments under a
contract, gram or cooperative endeavor agreement with any person, corporation, or entity delinquent in Ciiv taxes. This form supplies the needed
tax clearance. This clearance is issued without preiudice to am rax liabilities discovered bv audit.

Please refer to the instructions on the back of this form

BVS1XESS NAME;

OtVSER SS'AXfE:

\)Ams~> H. Suftcrt LLC

TiPE OF III 'SINES.

Real. &e~Atst db&jo&a bkjT

BUSINESS ADDRESS:

CUPK*}. VA ZCi2<4

MAILING ADDRESS:

PERSONAL PROPERTY TAX SI SHIER

CONTACT TELEPHONE:

7<qg- eta-soeo

FAX NUMBER:

SALES TAX OCCUPATIONAL LICENSE
NUMBER:

None' ttj hxjisiMJA-

E-MAIL ADDRESS: , /

■34 /ties H.3u*.cu /t4-?*ft*a/M& 7ft/g7Wag— .

PRINT NAME:

1K1 iA Vf*)h)
WtKlUlUe, THIS SO)

AUTHORIZED SIGNATURE:

da 1 1: signed: CtA u£ 2C f ^

this form with respect lo the tax matters covered a*nd that the above is true anc

I certify that I have the autWttV to execute this form with respect lo the tax matters covered Jnd that the above is true and correct.
The City of New Orleans is authorized to inspect and/or receive confidential ta\ information.

B I REAL OF REVENUE (Room 1WI5)

This clearance covers Occupational License and Sales/Use taxes

BUREAU OF TREASURY (Room 1W37)

This clearance covers Ad Valorem taxes for Real Estate and Business
Property taxes.

I hereby assert that after review of the taxpayer's records of this date that I hereby assert that alter review of the taxpayer s records of this date
the taxpayer IS NOT delinquent in any taxes owed to the city. This that the taxpayer IS NOT delinquent in any taxes owed to the city.

clearance covers the period today through March I. 20 The above This clearance covers the period todav through March 1. 20_ .

clearance may be revoked for failure to pay sales tax

COLLECTOR OF REVENUE DATE TREASURY CHIEF

1 attest that the taxpayer named above is not delinquent in any taxes owed to the city-.

DIRECTOR OF FINANCE DATE

RFPNo, 4051-01414

Page 11

CITY OF NEW ORLEANS
IDENTIFICATION OF SUBCONTRACTORS

STATE OF teWSk^A

Before me. the undersigned authority, came and appeared,
_. who. being first duly sworn, deposed and said that:

4. He*be is th e/)i4»M«<uift jfo.TA.teX. and authorized representative of Carries tf.&UQCU LLC

. hereafter called ""Respondent."

5. The Respondent submits the attached proposal in response to Citv of New Orleans Proposal

6. The Respondent hereby identifies the following persons, natural or artificial, who are
retained by Respondent at the time the attached proposal is submitted and who are expected to
perform work as subcontractors in connection with the Respondent's work for the City,
Respondent hereby acknowledges and agrees that when new subcontractors not previously
named are added to the project, they must be promptly identified to the City User Department
within 48 hours of the change. The official change may not take place unless and until the City
provides its written approval.

Person(s) and Company Name (if applicable
TIO IVOMS, PEREZ-

sporfdent Representative (Signature)
(Print or type name)

WW CwAuex. ktx&sJ>A. .CuPivi>j VA

(Address)

Sworn to and subscribed before me. ^ ^-^^ -Notarv Public this I day of A^P| 1

2013

Notary Publi
Notary ID#/Bar Roll # 1

RFP No. 4051-01414 Page 14

181 | P a g e

Sertionl.Resportdent

Company

James H. Burch. LLC

Contact

James H. Burch

Address

13419 Cavalier Woods
Drive Clifton. VA 20124

Telephone/Fax

703.818.8080

E-Mail

JimrSJamesHBurch.com

RFP/RFQ-SolicitationNumber

4051-01414

TitleoftheProjectandLocation

Redevelopment of World Trade Center Site

DBEPARTICIPATIONPLANSUBMITTEDBY

Signature:

PrintedName:

/IITTEDBYj,

Date: April 16. 2013

James H. Burch

Tit I e : Managing Partner

ThefollowingemployeewillbetheAdministratorofthisDBEParticipationPlan:

Name: James H. Burch

Titlp- Managing Partner

Address:

13419 Cavalier Woods Drive
Clifton. VA 20124

703.818.8080

-E-Mail:-

Jimifl JamesHBurch.com

Telephone:

PLEASE NOTE: Because of the nature of this RFP - no definitive specs on component uses, on schedule, or on future panics
or contractors to be involved, among other tilings - giving the exact percentages and dollar amounts of DBE participants in this
development is virtually impossible. At this point, we can. however, state with certainty that we WILL COMPLY with the diversity
requirements of the lease we will have with the city through our DBE Participation Plan. The point of our efforts m this development
win. obviously, be our General Contractor. The McDonnef Group. The McDonnel Group lias already built and developed protects
in New Orleans, and have been 100% in compliance with all city DBE requirements. They will do so for their behalf and for ours in
tliis development. The;- have for years met with prospective DBE firms, used them on other projects, and are intimately familiar « ith
the process and the success of meetinu any city-required sioals. THESE CITY-REQUIRED GOALS WILL BE MET FOR OCR
LEASE

WITH THE CITY FOR 55% OF ALL OCR EXPENDITURES. We will accomplish all DBE eoals required bv the city We
understand

that this would probably be a considered in our negotiations with the city, upon award of the bid.

[3]

Sectionll.DBEParticipationPlan

Thefollowing,togetherwithanyattachments,issubmittedasaDBEParticipationPlantosatisfythe
requirementsofCityofNewOrleansOrdinance70.432.1.

Thefollowinggoalsareestablishedforthetermoftheproposedcontract.Percentagesmayberounded to
nearesttenthofapercent.

1. a.TotalContractValueS 180,737.600 (indudingoptions)(Estimateifnecessary)

b.TotalSubcontractedS 108.442.560 60 %ofl.a.

(Inclusiveofallplannedsubcontractingtoalibusinesses.regardlessofsize)

2. Thefollowingdollarsandpercentagegoalsareapplicabletothecontractcitedabove, a.
CertifiedSLDBE $ 30.363.920 28 %ofl.b.

Totalplannedsubcontractingdollarsunderthiscontractwiilgotosubcontractorswhoarecertifiedasa
State&LocalDisadvantagedBusinessEnterprise(SLDBE)throughtheCityofNewOrleans,Sewerage& Water
BoardofNewOrleans.Harrah'sJazzCasinoortheNewOrleansAviationBoard.Youcanfindthe mostrecentlist
ofcertifiedSLDBEfirmsat www.noia.eov/Businesses/Office-of-Suoplier-Diversity .You mayaisocontactthe
OfficeofSupplierDiversityviae-mailat SupplierDiversitv(S)nola.gov torequesta copyofthelist.

b. CertifiedLAUCPDBE S 1 ? .013,107 1 - %ofl.b.

Totalplannedsubcontractingdollarsunderthiscontractwillgotosubcontractorswhoarecertifiedasa DBE
throughtheLouisianaDepartmentofTransportation'sUnifiedCertificationProgram.Youcan searchfor
certifiedLAUCPDBEfirmsat www.dotd.la.gov/lettings/subsdebed/dbhq2Q110126.asq .

c. Local 5 21 .688.5 12 20 %ofl.b.

Totalplannedsubcontractingdollarsunderthiscontractwillgotosubcontractorswhoarelocal business
concerns. A local business concern is an Orleans Parish business.

14]

Sectionlll.Subcontractor'sScopeofWork

Providethenameofthefirm,thetypeoffirm(2a.through2d.inSectionll)andtheservices,products and/or
scopeofworkcommitmentsbythefirm(s).

NameofFirm: Perez. APC Proposed DBE Participation (%):___!%

Firm Contact: Angela O'Bvrne

Address: 317 Burgundy Street. Suite 1 1 aty/state/zip: New Orleans. LA 70112

Telephone: 504.584.5 100 E-Mail:

SUBCONTRACTORTYPE:El 2A;D 2B;0 2C;

SCOPEOFWORK:Oescribebe!oworattochthemarktobsperformedbytheDBEfirm

Architecture and Planning

NameofFirm: Perle Proposed DBE Participation (%): 13%

Firm contact: Megan Fuselier

Address: 1 050 South Jeff Davis Pkway. Suite 2 1 9 city/state/zip: New Orleans. LA 70 1 25
Teiephone: 504.304.6136 E-Mail: megan(SperI econstruction.com
SUBCONTRACTORTTPE:H 2A;L3 2B;0 2C;

SCOPEOFWORK:DescribebeloworattachthevjorktobeperformedbytheDBEfirm
Construction Services

NameofFirm: Creek Sen 'ices LLC Proposed DBE Participation (%): 2%

FirmContact: Terri Hightower

Address: ! 1 1 2 5th Street City/State/zip: Harvey. LA 70053

Teiephone: 504. 362. 9432 E-Mail: t.hightowerfa creekservicesllc.com

SUBCONTRACTORTYPE:E3 2A;D 2B;D 2C;

SCOPEOFWORK:DescribebeloworattachthevjorktobeperfcrmedbytheDBEfirm

Heavy Civil Construction. Site Preparation. Excavation

NameofFirm: Trimark Constructors LLC Proposed DBE Participation (%): 1 9%

Firm.contact:. William Rvan

Address: 3350 Ridgelake Drive. Suite 1 1 1 city/state/zip: Metairie. LA 70002

Teiephone: 5Q4. 304.3867 E-Maih urvan'Strimarkconstructors.com

SUBC0NTRACT0RTYPE:!3 2A;D 2B;D 2C;

SCOPEOFWORK:DescribebeloworattochtbeworktobeperformedbytheDBEfirm

General Construction

ATTACHADDITIONALPAGESIFApDITIONALSPACEISREQUIRED

PartlV.DBEParticipationPlanMethod

a. ThefollowingmethodwasusedtodeveloptheDBEPartieipationPlan.Pleaseexplain:

1. Howtheproductsandservicestobesubcontractedwereestablished;

2. Howtheareastobesubcontractedweredetermined;and

3. Howtheircapabilitiesweredetermined.

This project includes design, enuineeriniz. construction, maintenance, loeistical. support and
services. The subcontract sen ices were based on the subcontractor's professional experience
and qualifications as well as their classification as qualified DBEs and or Small Locallv-
Owned Businesses.

b. IfindirectoroverheadcostshavebeenincludedinthesubcontractinggoalsspecifiedinSectionslI, explain
the method used in determiningthe proportionate share of indirect and overheadcosts to be allocated to
subcontractors:

\o Developer indirect or overhead costs w ere allocated to subcontractors costs in Section 11.

[6]

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187 | P a g e

ATTACHMENTS

Letters of Commitment by Major Participants in this Proposal

188 | P a g e

fficDonneL

53

Aprils, 2013

Attn: Jim Burch
Company
Address or Email

RE: World Trade Center Redevelopment Project

Preconstruction and Construction Services, Tax Credit Consultation

Dear Mr. Burch,

The McDonnel Group is honored to have been selected as part of the team to pursue the redevelopment of the iconic
World Trade Center Building in New Orleans, LA. The services that McDonnel will provide include:

L. Complete Construction Services

Preconstruction, Estimating, Project Management, Construction Management, Field Logistics, Project Close-Out

2. Tax Credit Consultation

Alan Ihriffiley, McDonnel's Administrative Manager, has been managing the finances of construction companies
since 1975. With an extensive accounting and tax preparation background, Alan is well versed in researching
local, state, and federal tax credits to assist our clients in obtaining maximum benefits on their projects. Alan will
lead the tax credit consultation services to research and guide the implementation of any and all available credits
applicable to the World Trade Center Redevelopment Project.

We appreciate the opportunity and look forward to being part of the team that sees this project through to its fruition.
Please call us if you have further questions.

Sincerely,

Allan McDonnel
President

3350 Ridgelake Drive, Suite 170 Metairie, LA 70002
P 504.219,0032 | F 504.219,0095 |

5J

189 | P a g e

WATG

- ■

09 April 2013

tandsiape

James H. Eurch, LLC
13419 Cavalier Woods Drive
Clifton, VA20124
703-818-8080

Via Electronic Mail JimfgHamesHBurch.com

SUBJECT: Letter of Interest to Propose on Conceptual Design Services
New Orleans World Trade Center Redevelopment

Dear Mr. Burch:

WATG is pleased to express our interest to act as the conceptual design firm on the James H. Burch, LLC team
if chosen for the Redevelopment of the New Orleans World Trade Center Project in New Orleans, Louisiana.

We are pleased to offer you exceptional design talent, unique management capabilities, and the enthusiasm to
provide a creative design for your proposed New Orleans World Trade Center Redevelopment Project
Development. Below is a brief explanation of the value that WATG and Wimberly Interiors bring to your team:

> Track record of designing distinctive destinations

According to Travel + Leisure and Conde Nast Traveler magazines, 49 of the world's 1 00 most
successful hotels were designed by our firm. Our approach to destination development goes beyond
the design, and includes an understanding of the consumer, the journey of the user, and an in-depth
knowledge of property operations. We have a track record of success in creating destinations that
appeal to travelers from around the world.

> Equal emphasis on creativity and the bottom line

We are just as interested in how properties perform - functionally, financially, and aesthetically. Good
design improves our clients' top- and bottom line as has been shown by Smith Travel Research results
that show our properties have outperformed their direct competitive sets in rate, occupancy and
REVPar for 20 years now. Our experience yields quantifiable results in terms of asset values, revenue
potential, profitability and return on investment.

> Knowledge of worldwide destination design trends

As active participants in such international organizations and programs as the Urban Land Institute,
Cornell's Center for Hospitality Research, Radical Innovation in Hospitality - and as proprietary
sponsors of research on affluent travelers - we are in a unique position to share insights that will help
position your luxury all-inclusive property for success in the future.

Our team is delighted at the prospect of working with you on this exciting project and appreciates the
opportunity to submit our qualifications. Please do not hesitate to contact us if you have any questions

WATG | 800: Irvine Center Drive. Suite 500. Irvine. California 92618 USA | teUI 949 574 8500 | vvatg.com

WAT G

regarding the information sent. We appreciate your interest in WATG and look forward to collaborating with
James Burch. LLC on this most intriguing opportunity.

Kind regards.

Monica Cuervo
Associate Vice President
Managing Director, Irvine

Perez.

ARCHITECTURE

ENGINEERING

PLANNING

INTERIORS

LANDSCAPE

CONSTRUCTION

DEVELOPMENT

April 11, 2013

Mr. James H. Burch
James H. Burch, LLC
13419 Cavalier Wood Drive
Clifton, VA 20124

RE : Redevelopment of the
World Trade Center
New Orleans, LA

Dear Mr. Burch,

Thank you for giving Perez the opportunity to work with you on the proposal for the Redevelopment
of the World Trade Center in New Orleans, LA. We look forward to working with you and
completing the project upon execution of a contract with the City of New Orleans.

I look forward to hearing from you soon.

President
AOB/kab

PEREZ. A PROFESSIONAL CORPORATION

317 BURGUNDY STREET. SUITE 11, NEW ORLEANS. LOUISIANA 70112
TELEPHONE 504.584.5100 FACSIMILE 504 584 5140 www.e-perez.com

CHICAGO • DENVER • DICKINSON ND • HOUSTON • LOS ANGELES • MOBILE • NEWYORK • PHOENIX ■ SAN FRANCISCO ■ WASHINGTON DC

Sincerely,

192 | P a g e

Peter Capone, AIA

3981 Roblar Avenue, Santa Ynez, California 93460
805-895-3552

James H. Burch
James H. Burch LLC
13419 Cavalier Woods Drive
Clifton, VA 20124

Dear Mr. Burch:

It is with great interest that I have watched your unfolding plans to redevelop the World
Trade Center Building in New Orleans. As you know, I was Edward Durrel Stone's partner
and confidant during the period when he was designing that building, and I helped him on
it. I am quite aware of what he saw as its most salient features, and can assist you in
preserving the integrity and character of the building in your redevelopment.

Therefore, I am happy to offer my services as a consultant to your architectural team as
you progress on this project. This is a building dear to my heart.

Peter Capone, AIA

193 | P a g e

SCHNELLBACHER DEVELOPMENT SERVICES, LLC

1621 SW Mulvane Street
Topeka. Kansas
785.224.4741

GSCHNELLBACHER@HOTMAIL.COM

April 10, 201 3

Mr. Jim Burch

Managing Member

James H. Burch LLC

1 341 9 Cavalier Woods Drive

Clifton, Virginia 20124

Re: Financial Feasibility Analysis - Redevelopment of the World Trade Center
Building, New Orleans, Louisiana

Dear Mr. Burch:

At your request, SDS is pleased to present this preliminary engagement outline
under which we would be willing to provide a financial feasibility analysis for the
proposed project utilizing master lease terms with the City of New Orleans,
estimated construction costs, applicable tax credit information and other relevant
information pertaining to the redevelopment of the World Trade Center building,
New Orleans, Louisiana.

As we understand this project, the proposed project is to redevelop an existing
vacant building into a mixed-use property containing hotel rooms, residential
apartments, office space, international tourism exhibition, retail space, and open
public space for entertainment uses. Additionally, a parking garage will be either
configured from among present options, or constructed to accommodate the
parking requirements of the various uses. The finalized configuration, interior
quality and other such finish details and uses will be provided after the acceptance
of your RFP by the City of New Orleans and the completion of the design phase of
the project. Consequently, please let this letter serve as my engagement outline to
start the discussion of the finalization of an engagement letter, under which we
would be willing to develop our financial feasibility analysis report.

We are confident of our ability to perform this assignment based upon our
experience with mixed-use development projects in Texas and Oklahoma, and our
hotel market studies and valuation projects within the city of New Orleans. (A
partial list is included at the end of this letter)

-SCHNELLBACHER DEVELOPMENT SERVICE-

Page 1

Scope of Work

The scope of my work will include, but not necessarily be limited to, the following:
Data Analysis

• Review any available planning materials relative to the project. Such
materials should include site plans, preliminary drawings, proposed
improvement descriptions and uses, construction costs, marketing
programs, tax credit information, contracts, leases, financial documents
and projections, along with other such related data.

• Meet with you and/or your associates in person or by teleconference prior
to commencing fieldwork in order to better understand the site, market and
details of the proposed mix-use development. At this meeting we will
discuss any questions related to the aforementioned topics and obtain
additional input from you that confirms or amends our understanding of
the details of the project and provides additional pertinent information.

• Assemble and review economic, demographic, real estate transaction data
pertaining to the market area, in general, to evaluate the present economic
climate and future growth potential of the community.

• Analyze the future performance of the various aspects of the proposed
mixed-use development over a period extending through the first ten years
of development, based on a hotel occupancy and rate study. Lease and
occupancy studies for the residential apartments, international tourism
exhibit "Eyes on the World," office space and retail space to obtain the
operating income, expenses and projections as detailed in your finalized
documentation. Estimates as to the cost of providing entertainment in the
open public space will be developed and included in the analysis.

• Research the contributory value of any city, state or federal tax credit and
abatement programs.

• Calculate the rate of return for the project once the equity and financing
components are determined.

• Present key data and analysis to you for review and discussion prior to
completion of the report.

-SCHNELLBACHER DEVELOPMENT SERVICE-

Page 2

Financial Projections

• Prepare estimates of annual revenue and expenses for the project to the
point of annual net income before debt service and income taxes for the
first ten years of the developments to determine the rate of return
applicable from the various aspects proposed in the mixed-use
development.

• Estimate the contributory nature of the tax credits and incentives, along with
the expected funding requirements to complete the development of the
projects.

• The basis for the prospective financial analysis and key assumptions
underlying inflation estimates will be developed and discussed in the
financial section of the report.

Summary Report

• Prepare a concise summary report presenting our findings, conclusions and
recommendations concerning the various aspects of the proposed mixed-
use development. The following topic headings provide an overview of the
expected content:

- Area Economic Overview

- Improvement Description

- Construction Costs and Public Space Utilization

- Analysis of the Tax Credits and Incentives

- Estimated Project Performance for the First Ten Years

- Financial Feasibility Analysis with Rate of Return

Meetings

We will hold telephone conferences with you at a mutually agreeable time to begin
the engagement. Telephone conferences of short duration will not be considered
"meetings" - nor will our meetings with my staff to gather research data.

Additional meetings are not normally contained within our fee estimate and are
usually billed at our standard per diem rates of $250 per hour or SI ,500 per day
for my services, plus travel expenses when applicable. Should you wish to discuss
inclusion of a specified number of meetings with various government officials or
partners, we can include such costs in the finalized engagement letter.

Limiting Conditions

The summary report will be subject to the attached standard statement of
assumptions and limiting conditions.

-SCHNELLBACHER DEVELOPMENT SERV1CE-

Page 3

Fees

Our fee for this engagement is based upon the estimated amount of time spent in
the performance of the work, as outlined above, at my standard rate.
Unfortunately, at this point in the development process of this project, I am unable
to determine the total amount of time required to complete this project to your
satisfaction and am therefore, unable to provide you with a fee quote.
Once the RFP is accepted by the City of New Orleans and the concept is finalized.
We will be willing to provide you with a fee for our services.

In addition to our base fee, travel costs, subsistence, courier service, report
production, graphics, third party data, long distance telephone and other out-of-
pocket expenses will be invoiced in addition to our professional fees. Three sign
original report will be provided at completion. Additional copies will be provided
for an additional per report fee.

Engagement Timing

SDS will commence work at a mutually agreed upon time after acceptance of the
finalized engagement proposal and receipt of the retainer. Assuming no unusual
circumstances, SDS plans to complete the assignment within three months,
thereafter.

We appreciate the opportunity to present this preliminary engagement letter to you
and look forward to working with you on this exciting project.

Best regards,

Schneilbacher Development Services

C. Gary Schneilbacher
Principal

-SCHNELLBACHER DEVELOPMENT SERVICE-

Page 4

Partial list of New Orleans and similar projects completed by C. Gary
Schnellbacher;

• Appraisal of Ritz Carlson, New Orleans - before and after Katrina, and
after repair

• Plaza Tower apartment and condominium market study, New Orleans

• Several confidential market studies for New Orleans Hotels

• Proposed resort market study, Orange Beach, Alabama

• Proposed Convention Hotel market study, Jackson, Mississippi

• Casino-related hotel market study, Shreveport, Louisiana

• Market Study for Red River Mixed-use development on Oklahoma side of
the Red River

• Appraisal of Marriott PGA, San Antonio, Texas

• Local development incentive programs and residential opportunities
study in Downtown San Antonio for San Antonio Business Alliance

• Hotel-Related Condominium market studies - Houston, Dallas, Austin,
San Antonio, Texas and Tempe, Arizona

• Appraisal of Lajtas Resort, infrastructure and residential developments,
Lajtas, Texas

-Schnellbacher Development Service-
Page 5

IJU

Dorian
Bennett

Sotheby's

INTERNATIONAL REALTY

2340 Dauphine Street. New Orleans. LA 70 1 1 7
1.504.944.3605 f 504.948.3401
www, d bsir.com infn'Srlhsir.cam

April 10, 2013

To Whom It May Concern:

1 am please to be able to represent the leasing of the lu\ur\ residential units (42 1BRTBA units
and 46 2BR.2BA units) that " ill be built in the redeveloped World Trade Center building, among
Other uses, by the developer. James H. Burch. LLC.

[ think they will be a wonderful fit into the creative new uses of that building, and that because of
both the energy of lite site as proposed and of the privacy of entrance and use thai is envisioned to
be designed into the architecture - potential tenants will find tins building a great draw.

1 do believe these units will be marketable because upper end renters like to be in and^or near the
French Quarter and the Central Business District, the job market shows sleadv growth and the
high end rental activity is brisk in the local market.

If you have any questions please feel tree to call me on m> cell phone 504.2j6.768R.

President

Dorian Bennett Sotheby's International Realty

2110 Dauphinc Street

New Orleans, LA 701 17 USA

t 504.944.3605

f 504.948.3401

c 504.236.7688

Licensed in Louisiana and Mississippi

DMB'wv.

I am very excited about the prospect of returning to New Orleans and this project provides the
perfect venue. As you know, this city has always been close to my heart, and the proposed
development of the World Trade Centre, as envisioned by James H. Burch LLC speaks of the spirit
and vitality of New Orleans and its people. This project with be a magnet for tourists and locals alike.
It will provide extraordinary benefits to the city, state, region and the country overall. It will show the
world that New Orleans has recovered from the devastation of Katrina, and is back to being the
vibrant, unique city it once was.

We feel the addition of Danny O'Flaherty's Folk World to the World Trade Centre will compliment the
vision set forth by Mr. Burch. We will work together to bring the world to New Orleans and New
Orleans to the world by promoting the spirit and energy so unique to the area. The establishment will
provide patrons with the best in live, authentic folk music from around the world. It will help bring the
world's music and culture under one roof, in an entertaining and educational way. It will showcase
different countries through their music, composition and cuisine.

The proposed redevelopment of this iconic, world centric, New Orleans based landmark will once
again be a signature for this great city. This glorious structure, with its amazing amenities will have
so much to offer, from office buildings to residential rental units, restaurants to nightclubs, beautiful
gardens and common areas. It will be unparalleled and stand unique just like our city. The location of
the World Trade Centre stands tall in a perfect location to draw visitors and tourists. The proposed
completion of the project, set to coincide with the tricentennial celebration of the city will indeed
send the message that New Orleans is once again a thriving, exciting city reclaiming its position in
the world as one of the best places in which to live and visit.

O'Flaherty's Irish Channel Pub was a national landmark in this city for 16 years. Its mission was to
provide a place where individuals could experience all the Celtic cultures. Danny O'Flaherty's Folk
World is an even bigger vision to bring the world together in the spirit of music and song and to
promote a sense of unity and acceptance to all who come to New Orleans. I am ready to embark on
this journey with James Burch to bring this vision to life.

Sincerely

Danny O'Flaherty

Arey-Peer Partnership

231 Seneca Road • Great Falls, Virginia 22065 • 703-789-7612 • peter@areyinc.com

Mr. James H. Burch
James H. Burch LLC
13419 Cavalier Woods Drive
Clifton, VA 20124

April 1. 2013

Dear Jim,

It has been a pleasure working with you towards the submission of your proposal responding to
RFP No. 4051-01414 from the New Orleans Building Corporation. I am encouraged by the
prospects of this submission, and by the great potential it holds for that city.

We have been working toward my company. Arey-Peer Partnership, becoming the Construction
Manager/Owner's Representative for the development and construction of this project. I look
forward to concluding that and moving into the full-fledged construction at this development as
quickly as possible. I understand we would want to finish as much as possible, certainly the
exterior, by the city's TriCentennial celebration in 2015.

As you know, Steven Peer and I have had extensive experience in the development and
construction of projects of this size. With you, we can make this happen.

Sincerely,

Peter Arey
Partner